Analyst
The Cable has enjoyed a relatively smooth ride against the Greenback ahead of the all-important rate hike speculation at the policy meeting of the Bank of England scheduled for this week. Rapidly improving COVID-19 situation in the UK and rising inflation has helped propelled the Cable to a new height. The dollar is trading lower ahead of the key employment data scheduled to be released on Friday with the dovish stance of the Fed weighing on the dollar.
There is a hammer on a support zone on the H1 with a confirmation candle favouring the bulls on the pair with a target at 1.39754 and stop-loss at 1.38786.
ISM Manufacturing PMI (USD) 3:00 PM
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