Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.16893 with take profit at 1.17073
Bearish Preference:
A Sell position is envisaged if price trades below price 1.16410 with take profit at 1.16185
Fundamentals:
No major fundamental
Comment:
The U.S dollar surged to a 20-year high against a basket of currencies on Monday after Federal Reserve Chair Jerome Powell signaled interest rates would be kept higher for longer to bring down soaring inflation. The dollar index scaled to a fresh two-decade peak of 109.44 in the Asia trade, with greenback strength pushing other major currencies to new lows and putting pressure on its emerging markets counterparts.
Analysis: SCRUM Team
