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Instrument: GBPUSD
Intraday: Bullish
Technical Analysis
Preference:
Buy position is envisaged if price trades above 1.30737 with take profit at 1.31000
Alternative scenario:
Sell position is envisaged if price trades below 1.30300 with take profit at key level 1.29475
Fundamentals:
No major economic data with direct bearing to this pair
Comment: This pair has been ranging for quite some time and is currently trying to trade higher to the next resistance; likewise, the weakness of the US dollar has made its pairs more attractive and stronger; hence, a buy on GBPUSD is envisaged as a safer trade.
Analysis: SCRUM Team
