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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.34811 with take profit at 1.34985
Bearish Preference:
Sell position is envisaged if price trades below 1.34304 with take profit at 1.34176
Fundamentals:
8:00am GBP CPI y/y
Comment: The dollar was up on Wednesday morning in Asia, remaining near a 16-month peak. Investors also digested the latest U.S. economic data and raised bets for an earlier-than-expected interest rate hike from the U.S. Federal Reserve. Elsewhere in Europe, the U.K. releases its consumer price index later in the day, which could provide further support to the Bank of England tightening its monetary policy.
Analysis: SCRUM Team
