Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.32345 with take profit at 1.32480.
Bearish Preference:
Sell position is envisaged if price trades below 1.31967 with take profit at 1.31815.
Fundamentals:
2:30pm USD CPI m/m
USD Core CPI m/m
Comment: The GBPUSD pair edged higher during the early part of the trading action on Friday and was looking to build on this week’s recovery move from a one-year low, around the 1.3160 region touched on Wednesday. A subdued US dollar price action was seen as a key factor that extended some support to the GBP/USD pair, though a combination of factors kept a lid on any meaningful gains.
Analysis: SCRUM Team