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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.25182 with take profit at 1.25349
Bearish Preference:
Sell position is envisaged if price trades below 1.24728 with take profit at 1.24577
Fundamentals:
USD 1:30pm Core Durable Goods Orders m/m
Durable Goods Orders m/m
7:00pm FOMC Meeting Minutes
Comment:
The dollar was up on Wednesday morning in Asia as investors awaited minutes from the last U.S. Federal Reserve meeting. Investors are keeping an eye on the monetary policy outlook with worries of a potential recession caused by the tightening monetary policies. The minutes from the last Fed meeting will be released later today, with investors awaiting more clues on whether the tightening would continue.
Analysis: SCRUM Team
