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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.36395 with take profit at 1.36515.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.36046 with take profit at 1.35940.
Fundamentals:
1:30pm USD CPI m/m
USD Core CPI m/m
Comment: The dollar weakened in early trade in Europe on Wednesday as markets regained their appetite for risk a little ahead of key inflation data later in the session. The rate of consumer price inflation in the U.S. is expected to have stayed at 5.3% in September, with core price inflation staying at 4.0%. Any number in excess of that is likely to feed expectations that the Federal Reserve will be forced to raise interest rates well before the end of next year.
Analysis: SCRUM Team
