Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.12448 with take profit at 1.12621.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.11902 with take profit at 1.11719.
Fundamentals:
1:30PM USD Average Hourly Earnings m/m
USD Non-Farm Employment Change
USD Unemployment Rate
Comment:
The pound tumbled and volatility returned to the U.K. government bond market on Thursday after the Bank of England signaled it can’t afford to raise interest rates much further without killing the economy. However, markets sold off with increasing force as Governor Andrew Bailey and his colleagues signaled that – even with inflation running at over 10% – they didn’t think interest rates needed to rise much further.
Analysis: SCRUM Team
