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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.41305 with take profit at 1.41537.
Bearish Preference:
Sell position is envisaged if price trades below 1.40899 with take profit at 1.40663.
Fundamentals:
3:30 PM GBP BOE Gov Bailey Speaks
Comment: The dollar was up on Tuesday morning in Asia, but gains were capped by expectations that already-surging commodity prices will rise further.
Investors now await inflation data from the U.S., including core CPI, that will be released on Wednesday. Meanwhile, the UK keeps marching towards normality. The country reported zero new covid-related deaths for the first time in over a year and continues with its reopening program.
Analysis: SCRUM Team
