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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above 1.15793 with take profit at 1.15996.
Bearish Preference:
A sell position is envisaged if price trades below price 1.15221 with take profit at 1.15072.
Fundamentals:
1:30pm
USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
Comment:
The U.S. dollar edged lower in early European trade Friday, but remained near a two-decade high ahead of the widely watched monthly U.S. jobs report which could point to further hefty interest rate hikes. While this would represent a slowing in job growth from July’s 528,000, it would still mark the 20th straight month of job growth and likely support a continuation of aggressive rate hikes from the Fed to the benefit of the dollar.
Analysis: SCRUM Team
