Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.17081 with take profit at 1.17236
Bearish Preference:
A Sell position is envisaged if price trades below price 1.16699 with take profit at 1.16545
Fundamentals:
7:00am GBP GDP m/m
Comment:
GBP/USD rose 0.7% to 1.1667, piggy-backing on the euro’s gains versus the dollar, although the latest economic data showed that Britain’s economy grew by less than expected in July when it expanded by 0.2% from June.
Analysis: SCRUM Team