Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.36288 with take profit at 1.36411.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.35689 with take profit at 1.35550.
Fundamentals:
1:30pm USD Unemployment Claims
Comment: The GBP/USD pair quickly recovered around 25-30 pips from the early European session lows, albeit struggled to capitalize on the move beyond the 1.3600 round-figure mark. The British pound was further supported by signs of easing fuel crisis in the United Kingdom, though comments by the Bank of England chief economist, Huw Pill, capped gains.
Analysis: SCRUM Team