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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.38471 with take profit at 1.38688.
Bullish Preference:
Sell position is envisaged if price trades below 1.38219 with take profit at 1.38030.
Fundamentals:
9:40am GBP MPC Member Haldane Speaks
12:50pm GBP BOE Gov Bailey Speaks
3:00pm USD Fed Chair Powell Testifies
Comment: The dollar strengthened in early European trading Tuesday, with focus turning towards testimony from Fed chief Jerome Powell and Treasury Secretary Janet Yellen and what this may mean for bond yields.
The GBP/USD pair opened with a modest bearish gap and dropped to multi-day lows during the early part of the trading action on Monday. Worries that events in Turkey will cause disruptions in other asset classes drove some haven flows towards the US dollar, which, in turn, exerted some pressure on the major.
Analysis: SCRUM Team
