Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.31380 with take profit at 1.31523
Bearish Preference:
Sell position is envisaged if price trades below 1.31153 with take profit at 1.30998
Fundamentals:
9:30am GBP BOE Credit Conditions Survey
1:30pm USD Core Retail Sales m/m
USD Retail Sales m/m
USD Unemployment Claims
Comment:
The U.S. dollar weakened in early European trade Thursday, retreating from a two-year high as the rally in U.S. bond yields paused for breath, ahead of a highly-anticipated European Central Bank meeting. As it stands the ECB plans to end its emergency bond buying at some point in the third quarter, with interest rates going up “some time” after that. However, many of the central bank’s peers have already started tightening policy, and investors will be looking to see if the central bank provides a clearer schedule for unwinding its extraordinary stimulus.
Analysis: SCRUM Team
