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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.13776 with take profit at 1.13968
Bearish Preference:
Sell position is envisaged if price trades below 1.12972 with take profit at 1.12809
Fundamentals:
3:00pm USD JOLTS Job Openings
Comment:
GBP/USD climbed 0.5% to $1.1375 in the wake of the British government’s decision to reverse the proposed scrapping of the highest rate of income tax. New Finance Minister Kwasi Kwarteng also announced he would be bringing forward his fiscal statement in an attempt to calm markets as he is likely to announce spending cuts to try and limit the government’s borrowing.
Analysis: SCRUM Team
