Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.37606 with take profit at 1.37722
Bearish Preference:
Sell position is envisaged if price trades below 1.37287 with take profit at 1.37177.
Fundamentals:
1:15pm USD ADP Non-Farm Employment Change
3:00pm USD ISM Manufacturing PMI
Comment: The dollar edged higher Wednesday, but remains near its lowest point in three weeks, after weak economic data out of both China and the Eurozone.
The payrolls are widely expected to increase by around 750,000 in August, a strong number, but this would still represent a drop from the growth of 943,000 the previous month.
Analysis: SCRUM Team