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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.36796 with take profit at 1.36969.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.36286 with take profit at 1.36121.
Fundamentals:
None with high impact on the pair.
Comment: The dollar was up against high-yielding currencies but lower against the euro and sterling on Monday, as Friday’s jobs report left room for significant room for uncertainty over when the Federal Reserve may start to raise interest rates. The jobs report was the weakest this year, with only 194,000 nonfarm jobs being added, well short of consensus. A big upward revision to August’s data softened the disappointment a little, but average earnings came in above expectations, increasing fears that inflation may strengthen at the same time as growth slows due to constraints in both global supply chains and local labor markets.
Analysis: SCRUM Team
