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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.36083 with take profit at 1.36226
Bearish Preference:
Sell position is envisaged if price trades below 1.35578 with take profit at 1.35403
Fundamentals:
3:00PM USD: Fed Chair Powell Testifies CB Consumer Confidence
Comment: BP/USD Is currently on the Backfoot. A modest pullback in the Pound this morning, breaking back below the 1.3700 handle. Reminder that today is corporate month end (two days before actual month end), which typically coincides with USD strength throughout the session. Additionally, the sizeable pick up in US yields with the 10Y once again reclaiming 1.5% has also underpinned the greenback.
Analysis: SCRUM Team
