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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.35448 with take profit at 1.35655 .
Bearish Preference:
Sell position is envisaged if price trades below 1.35079 with take profit at 1.34901.
Fundamentals:
2:30PM USD Unemployment Claims
4:00PM USD ISM Services PMI
Comment: The U.S. dollar pushed higher in early European trade Thursday, boosted by rising Treasury yields after the minutes from the December Federal Reserve meeting raised expectations of an early interest rate hike and also put the issue of reversing the bank’s bond purchases in play. “The minutes revealed that committee members felt inflation risks were more persistent and to the upside, and there was general agreement that the taper should be accelerated with three tentative rate hikes penciled in,” said Jeffrey Halley, an analyst at OANDA.
Analysis: SCRUM Team
