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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.26078 with a take profit at 1.26181.
Bearish Preference:
A sell position is envisaged if the price trades below price 1.25891 with a take profit at 1.25649.
Fundamentals:
None with High Impact
Comment:
The U.S. dollar edged higher in early European trade Tuesday, while sterling retained strength ahead of this week’s Bank of England policy-setting meeting. The Bank of England looks set to raise interest rates by another 25 basis points to 4.5%, as it combats inflation still running at double figures, the highest of any big advanced economy.
Source:investing.com
