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Instrument: GBPUSD
Bullish Preference:
Buy position is envisaged if price trades above 1.25871 with take profit at 1.26023
Bearish Preference:
Sell position is envisaged if price trades below 1.25617 with take profit at 1.25448
Fundamentals:
2:30pm
USD Unemployment Claims
Comment:
Dollar at 2-week high, euro softer as market bets on rate cuts.
The U.S. dollar was at a two-week high on Wednesday, while the euro was weak across the board as markets ramped up bets that the European Central Bank (ECB) will cut interest rates as early as March.
Although markets are still pricing at least 125 basis points of interest rate cuts from the U.S. Federal Reserve next year, the dollar was able to hold steady as rate cut bets for other central banks intensified.
Analysis: SCRUM Team
