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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.31136 with take profit at 1.31320
Bearish Preference:
Sell position is envisaged if price trades below 1.30673 with take profit at 1.30562
Fundamentals:
1:30pm USD Unemployment Claims
Comment:
The U.S. dollar edged lower in early European trade Thursday but still remained close to a two-year high after minutes from the last Federal Reserve meeting showed policymakers were preparing to move aggressively to head off inflation. At 3:55 AM ET (0755 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.1% lower at 99.520, just below Wednesday’s high of 99.78 which was its highest since May 2020.
Analysis: SCRUM Team
