Instrument: GBPUSD
Bullish Preference:
Buy position is envisaged if price trades above 1.22809 with take profit at 1.23041
Bearish Preference:
Sell position is envisaged if price trades below 1.22436 with take profit at 1.22250
Fundamentals:
1:30pm USD Unemployment Claims
12:00pm GBP Official Bank Rate
Comment:
The decision to hike interest rate was reconsidered due to softer than anticipated UK inflation data for August. The Pound Sterling (GBP), remains vulnerable near five-month lows of 1.2304, while the US Dollar (USD) has reached a fresh six-month high.
Analysis: SCRUM Team