Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.37947 with take profit at 1.38043.
Bearish Preference:
Sell position is envisaged if price trades below 1.37553 with take profit at 1.37438.
Fundamentals:
No major fundamental
Comment: The GBP/USD pair extended its rejection slide from the very important 200-day SMA and witnessed some selling for the second successive session on Friday. The British pound’s relative underperformance comes amid diminishing odds for an early policy tightening by the Bank of England (BoE) and fresh Brexit jitters.. Apart from this, reports that the European Union could terminate the post-Brexit trade deal if the UK government pulls out of its commitments over Northern Ireland (NI) further weighed on the sterling.
Analysis: SCRUM Team