Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.34417 with take profit at 1.34568.
Bearish Preference:
Sell position is envisaged if price trades below 1.34028 with take profit at 1.33874.
Fundamentals:
2:30pm USD Advance GDP q/q
Comment: The dollar was up on Thursday morning in Asia, hitting multi-week highs. The safe-haven U.S. currency got a boost after U.S. Federal Reserve chair Jerome Powell hinted at imminent interest hikes. The Fed left its interest rate unchanged at 0.25% as it handed down its latest policy decision on Wednesday. However, Powell signaled a sustained battle to curb high inflation, saying there was “quite a bit of room to raise interest rates without threatening the labor market” and that the Fed would likely begin hiking interest rates in March 2022.
Analysis: SCRUM Team