Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.35533 with take profit at 1.35664.
Bearish Preference:
Sell position is envisaged if price trades below 1.35238 with take profit at 1.35116.
Fundamentals:
2:30pm USD PPI m/m.
Comment:
The dollar was down on Tuesday morning in Asia, while geopolitical tensions over Ukraine weighed on the euro. However, the debate on how aggressively the U.S. should hike interest rate capped the dollar’s losses. Meanwhile, U.S. Federal Reserve officials continue to argue over how aggressively to begin upcoming interest rate hikes at their March meeting.
Analysis: SCRUM Team