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Instrument: GBPUSD
Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.25215 with take profit at key level 1.24638.
Alternative scenario:
Buy position is envisaged if price trades above 1.25716 with take profit at 1.26205.
Fundamentals:
EUR 12:45pm
Main Refinancing Rate
Monetary Policy Statement
ECB Press Conference
USD 1:30pm
Core Retail Sales m/m
Retail Sales m/m
Comment: The dollar strengthened between yesterday and today after news of positive outcomes on the COVID 19 Vaccine testing, hence, GBPUSD dropped. Technically, it got rejected at a resistance and it is envisaged to keep on dropping till it gets to the next support zone at 1.26205.
Analysis: SCRUM Team
