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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 1.38185 with take profit at price 1.38299.
Bearish Preference:
A sell position is envisaged if price trades below price 1.37795 with take profit at price 1.37681.
Fundamentals: 3:00pm USD Prelim UoM Consumer Sentiment
Comment: The dollar held near three-week highs against a basket of major currencies on Friday after a raft of strong U.S. economic data rekindled expectations of an earlier policy tightening by the U.S. Federal Reserve. The U.S. Dollar Index managed to settle above the resistance at 92.80 but failed to get to the test of the 93 level. In case the U.S. Dollar Index settles above 93, it will head towards the resistance at 93.10 which will be bearish for GBP/USD.
Analysis: SCRUM Team
