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Instrument: GBPUSD
Bullish Preference:
A buy position is envisaged if the price trades above 1.27019 with take profit at 1.27248
Bearish Preference:
A sell position is envisaged if the price trades below 1.26624 with a take profit at 1.26307
Fundamentals:
No Major fundamental
Comment:
The dollar has been in demand after U.S. producer prices increased more than expected in July, data showed Friday, adding to the previous day’s modest increase in consumer prices. These numbers raised concerns that the Federal Reserve may still increase interest rates further when it next meets in September, even if markets still widely expect the U.S. central bank to end its rate hike cycle then.
Analysis: SCRUM Team
