Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.37032 with take profit at 1.37156.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.36783 with take profit at 1.36683.
Fundamentals:
1:30pm USD PPI m/m
USD Core PPI m/m
USD Unemployment Claims
Comment: The U.S. dollar touched its lowest point this week against major peers on Thursday, taking a breather from a rally that had lifted it to a one-year high powered by expectations for quicker Federal Reserve interest rate hikes. A Labor Department report showed U.S. consumer prices rose solidly in September, and they are likely to rise further amid a surge in energy prices, potentially pressuring the Fed to act sooner to normalise policy.
Analysis: SCRUM Team
