Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.21816 with take profit at 1.21492
Alternative scenario:
Buy position is envisaged if price trades above 1.22198 with take profit at 1.22358
Fundamentals:
GBP Flash Manufacturing PMI 9:30am
GBP Flash Services PMI 9:30am
USD Flash manufacturing PMI 2:45pm
USD Fed. Chair Powell speaks 7:30pm
Comment: The US gained very quickly late last night as reports showed a global economic COVID recovery sentiment. It is stated that most investors are finally confident to see a recovery in the dollar, hence, a bearish move on this pair is envisaged.
Analysis: SCRUM Team