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Instrument: GBPUSD
Bullish Preference:
A buy position is envisaged if the price trades above 1.27418 with take profit at 1.27566.
Bearish Preference:
A sell position is envisaged if the price trades below 1.27080 with take profit at 1.26925.
Fundamentals:
No High Impact
Comment:
The U.S. dollar gained in early European trade Monday, rebounding from losses after Friday’s payrolls data ahead of this week’s release of inflation data from the world’s two largest economies.
However, the jobs report also showed solid wage gains and a decline in the unemployment rate, indicating that the labor market remains tight and inflationary pressures remain.
Analysis: SCRUM Team
