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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.31355 with take profit at 1.31464.
Bearish Preference:
Sell position is envisaged if price trades below 1.31083 with take profit at 1.30968
Fundamentals:
3:00pm USD JOLTS Job Openings
USD CB Consumer Confidence
Comment:
GBP/USD rose 0.1% to 1.3102, ahead of the release of the latest Bank of England Quarterly Bulletin, The pair struggled to preserve its modest intraday gains to the 1.3115 regions and turned lower for the fifth successive day on Tuesday amid the emergence of fresh US dollar buying. Rising bets for a 50 bps rate hike at the next two FOMC meetings turned out to be a key factor that continued acting as a tailwind for the buck.
Analysis: SCRUM Team
