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Instrument: GBPUSD
Technical Analysis
Bearish Preference:
Sell is envisaged if price trades below 1.36675 with take profit at 1.36484.
Bullish Preference:
Buy is envisaged if price trades above 1.37571 with take profit at 1.37891.
Fundamentals:
No Fundamentals
Comment: The dollar did fall lower earlier today, but the expected stimulus package which is being debated by congress at the moment is giving the buck the necessary strength as investors see the stimulus package as a step in the right direction to boost macro economic activities in the US. Technically we can see the instrument is on a strong resistance zone and it is unlikely for price to move higher.
Analysis: SCRUM Team
