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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.38939 with take profit at 1.39097.
Bearish Preference:
Sell position is envisaged if price trades below 1.38608 with take profit at 1.38458.
Fundamentals:
3:00 pm USD ISM Services PMI
Comment: Investors assess the US job data is not strong enough to alter the Fed’s current ultra-accommodative monetary policy stance. On the other hand, the sterling benefitted from the optimism arising out of the unlocking news. UK Prime Minister Boris Johnson has reconfirmed his plan to lift most of England’s remaining COVID-19 restrictions by 19th July.
Analysis: SCRUM Team
