Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.25638 with take profit at 1.25795
Bearish Preference:
Sell position is envisaged if price trades below 1.25374 with take profit at 1.25235
Fundamentals:
1:30pm USD Core PCE Price Index m/m
Comment:
Pre-month-end profit-taking in the US dollar, which has up until this point been on a rampage higher in recent weeks against most of its major counterparts, is being attributed as the main factor giving GBP/USD a lift on Friday. The pair was last trading in the 1.2575 region, up about 1.0% on the day and over 1.3% higher versus Thursday’s intra-day lows at 1.2410.
Analysis: SCRUM Team