Instrument: GBPUSD
Technical Analysis
Bearish Preference:
Sell is envisage if price trades below 1.39409 with take profit at 1.39106.
Bullish Preference:
Buy is envisaged if price trades above 1.39963 with take profit at 1.40266.
Fundamentals:
2:15pm USD ADP Non-Farm Employment Change
4:00pm USD ISM Services PMI
Comment: The pair gained traction through the first half of the trading action on Wednesday and has now rallied nearly 150 pips from one-and-half-week lows.
The British pound was supported by expectations that UK finance minister Rishi Sunak will announce measures to safeguard businesses and jobs.
Analysis: SCRUM Team