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Instrument: GBPUSD
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.25772 with take profit at 1.26122.
Alternative scenario:
Sell position is envisaged if price trades below 1.25473 with take profit at 1.25129.
Fundamentals:
No major economic data with bearing on the pair
Comment: The pair is surging northward as sentiment on the second wave of infection in the US fueled concern and weakened the Greenback. The bullish momentum is envisaged to continue once the key resistance on the hourly timeframe is upturned.
Analysis: SCRUM Team
