Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.39565 with take profit at 1.39772.
Bearish Preference:
Sell position is envisaged if price trades below 1.39199 with take profit at 1.38992.
Fundamentals:
USD 1:30 PM Advance GDP q/q
Advance GDP Price Index q/q
Unemployment Claims
Comment: The U.S. central bank kept interest rates steady on Wednesday at the end of its latest two-day meeting, as widely expected, while suggesting that the U.S. economy was making progress towards the levels where the Fed members would agree to tapering monthly bond purchases. However, comments from Chairman Jerome Powell that rate increases were “a ways away” and that the job market still had “some ground to cover” before the central bank begins to taper its assets weighed on the dollar.
Analysis: SCRUM Team