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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above1.20708 with take profit at 1.20975
Bearish Preference:
Sell position is envisaged if price trades below 1.19966 with take profit at 1.19631
Fundamentals:
4 PM BOE Gov Bailey Speaks
Comment:
The number of people claiming jobless benefits fell by 20,000 in June, less than expected, while average earnings growth slowed and fell further behind inflation, the Office for National Statistics said on Tuesday. On a more positive note, the ONS said the number of people in employment over the three-month period through May rose by 296,000, a sharp increase from 177,000 in the three months through April, and the sharpest quarterly increase in over four years. Average earnings including bonuses rose by 6.2% on the year in the three months through May, while earnings excluding bonuses rose by a gentler 4.3%. In both cases, growth was slower from a month earlier, leaving earnings further below an annual inflation rate currently running at a 30-year high of 9.1%.
Analysis: SCRUM Team
