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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.36199 with take profit at 1.36298.
Bearish Preference:
Sell position is envisaged if price trades below 1.36078 with take profit at 1.36008.
Fundamentals:
No major Fundamental.
Comment:
GBP/USD does still retain some bullish potential and support, so far, has held above the 1.3500 psychological level. The disconcerting part here is that it’s been that way for a couple of weeks now and still, buyers haven’t been able to string together much of anything. When this takes place, when the door is seemingly open to the strength that never shows, this is often an attractive environment to start looking for things to go the other way, and in GBP/USD, that would mean bearish price action.
Analysis: SCRUM Team
