Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.25454 with take profit at 1.25646
Bearish Preference:
Sell position is envisaged if price trades below price 1.25004 and Take profit 1.24670
Fundamentals:
No Major Fundamental
Comment:
The U.S. dollar edged lower in early European trade Monday, with activity limited ahead of the release of key U.S. consumer inflation data as well as a major European Central Bank meeting. A high inflation reading would add to expectations of aggressive tightening by the U.S. Federal Reserve, and likely put an end to last month’s speculation that the Fed will take a break from raising interest rates at its September meeting.
Analysis: SCRUM Team