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Instrument: GBPUSD
Bullish Preference:
Buy position is envisaged if price trades above 1.22499 with take profit at 1.22651.
Bearish Preference:
Sell position is envisaged if price trades below 1.22272 with take profit at 1.22169.
Fundamentals:
None with High Impact
Comment:
The Pound (GBP) experienced further losses on Friday, rounding off a challenging week marked by a deepening contraction in the U.K.’s service sector activity, according to the latest survey. This development has intensified recession fears and fueled expectations that the Bank of England (BoE) has concluded its interest rate hikes.
Analysis: SCRUM Team
