Daily Market Analysis 31/08/2021: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1.37956 with take profit at 1.38102.
Bearish Preference: 
Sell position is envisaged if price trades below 1.37663 with take profit at 1.37523.
2:45pm USD Chicago PMI
3:00pm USD CB Consumer Confidence

Comment: The dollar fell to two-week lows in early European trade Tuesday, continuing the weakness stemming from Federal Reserve Chairman Jerome Powell’s dovish speech at the end of last week and looking ahead to Friday’s key employment report.

Analysis: SCRUM Team

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