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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.35761 with take profit at 1.35921.
Bearish Preference:
Sell position is envisaged if price trades below 1.35192 with take profit at 1.35010.
Fundamentals:
2:30pm USD Core Retail Sales m/m
USD Retail Sales m/m 3:15pm
USD Industrial Production m/m
8:00pm USD FOMC Meeting Minutes
Comment:
The GBP/USD pair maintained its bid tone above mid-1.3500s heading into the early North American session and had a rather muted reaction to the UK inflation report. The global risk sentiment remained well supported by receding fears about a conflict between Russia and the West over Ukraine. This, in turn, continued weighing the safe-haven US dollar and extended some support to the GBP/USD pair.
Analysis: SCRUM Team
