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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.37796 with take profit at 1.37947.
Bearish Preference:
Sell position is envisaged if price trades below 1.37618 with take profit at 1.37472.
Fundamentals: No major Fundamentals
Comment: U.K. Prime Minister Boris Johnson will announce his long-awaited plan to reform social care on Tuesday, risking a major row with his own party over a potential tax rise that could hit young people hardest. The government is likely to confirm plans to go ahead with a 10 billion pound($14 billion) tax increase, Johnson’s office has so far skirted around reports that national insurance, a payroll tax, could be raised by at least 1% to both reform social care and tackle the National Health Service backlog that built up during the Covid-19 pandemic.
Analysis: SCRUM Team
