Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.20123 with take Profit at 1.20313
Bearish Preference:
Sell position is envisaged if price trades below 1.19511 with take Profit at 1.19335
Fundamentals:
No Major Fundamental
Comment:
The dollar was down on Monday morning in Asia, but moves were small as investors braced for a 75-basis-point interest rate hike by the U.S. Federal Reserve this week. UK inflation is running at the fastest pace since the early 80s. The Bank of England’s tip-toeing on rate hikes relative to its peer across the Atlantic. Also, Festering labor and supply-chain wounds left by Brexit is not giving room for the pound recovery.
Analysis: SCRUM Team
