Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.36181 with take profit at 1.36357.
Bearish Preference:
Sell position is envisaged if price trades below 1.35943 with take profit at 1.35772.
Fundamentals:
2:30pm USD Philly Fed Manufacturing Index
USD Unemployment Claims
Comment: GBP/USD seems to have gone into a consolidation phase above 1.3600. However, the near-term technical outlook doesn’t yet point to a buildup of bullish momentum and sellers wait for 1.3600 support to fail, FXStreet’s Eren Sengezer reports. “In case Wall Street’s main indexes continue to push lower after the opening bell, we could see the dollar regather its strength. On the other hand, GBP/USD could benefit from the risk-positive market environment if US stocks rebound in a convincing way.”
Analysis: SCRUM Team