Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.25907 with take profit at 1.26143.
Bearish Preference:
A sell position is envisaged if the price trades below price 1.25271 with take profit at 1.25098.
Fundamentals:
3:00pm USD ISM Manufacturing PMI
Comment:
The week’s highlight will be the conclusion of the latest meeting of the Federal Open Market Committee, which is expected to increase the benchmark lending rate target by another 25 basis points on Wednesday – the 10th consecutive increase going back to March of last year. However, this could prove to be the end of the Fed’s tightening cycle as last week’s first-quarter growth figures pointed to an economy that’s slowing quite rapidly.
Analysis: SCRUM Team