Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.35565 with take profit at 1.35689
Bearish Preference:
Sell position is envisaged if price trades below 1.35127 with take profit at 1.35011
Fundamentals:
4:45pm GBP BOE Gov Bailey Speaks
USD Fed Chair Powell Speaks
Comment: The dollar edged lower in early European trade Wednesday, but remained near its best levels this year as higher U.S. Treasury yields, potential Federal Reserve tapering and global growth concerns stemmed any losses. GBP stalled its steady Asian recovery and ran into fresh supply as the European traders hit their desks, digesting the renewed concerns over China Evergrande, a potential US government shutdown and the ongoing UK’s petroleum problem.
Analysis: SCRUM Team
