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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.23586 with take profit at 1.23689.
Bearish Preference:
A sell position is envisaged if the price trades below 1.23317 with take profit at 1.23219.
Fundamentals:
None with High Impact
Comment:
U.S. President Joe Biden on Sunday finalised a budget agreement with House Speaker Kevin McCarthy to suspend the $31.4 trillion debt ceiling until Jan. 1, 2025, and said the deal was ready to move to Congress for a vote. Talk that the U.S. rate hiking cycle may not be over as soon as hoped given signs of economic strength have bolstered the dollar this month and could support the currency even as U.S. debt ceiling worries abate.
Analysis: SCRUM Team
