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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.19750 with take profit at 1.19874
Bearish Preference:
Sell position is envisaged if price trades below 1.19347 with take profit at 1.19211
Fundamentals:
2:45pm USD Flash Services PMI
Comment:
The dollar has been weighed down this week by expectations that the Federal Reserve will lift interest rates next week by less than the 100 basis points that seemed likely after the release of the red-hot June consumer inflation data.
Analysis: SCRUM Team
