Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.22566 with take profit at 1.22884
Bearish Preference:
Sell position is envisaged if price trades below 1.22077 with take profit at 1.21827
Fundamentals:
3:15pm GBP Monetary Policy Report Hearings
Comment:
The U.S. dollar edged lower in early European trade Friday, but remained near a 20-year high with Federal Reserve Chair Jerome Powell largely cementing the likelihood of further hefty interest rate rises to combat stubbornly high U.S. inflation.
Analysis: SCRUM Team
