Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy is envisage if price trades above 1.39454 with take profit at 1.39727.
Bearish Preference:
Sell is envisaged if price trades below 1.39141 with take profit at 1.38880.
Fundamentals:
4:00PM – Unemployment Claims
6:05PM – Fed Chair Powell Speaks
Comment: GBP/USD has been resisting yield-driven dollar strength ahead of Fed Chair Powell’s speech as the well-received UK budget and Britain’s vaccination campaign continue supporting sterling. The cable may propel higher if Powell gives green light to intervene.
Analysis: SCRUM Team