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Instrument: GBPUSD
Bullish Preference:
Buy position is envisaged if price trades above 1.21861 WithTake profit at 1.21988
Bearish Preference:
Sell position is envisaged if price trades below 1.21572 with Take profit at 1.21411
Fundamentals:
3PM USD: CB Consumer Confidence
Comment:
Following last week’s decision by the Bank of England’s (BOE) to keep rates steady at 5.25%, the British pound remains under pressure and continues to trade in six-month lows versus the greenback. The U.S. dollar rose Tuesday, climbing to 10-month highs after bond yields soared to 16-year peaks amid growing expectations that U.S. interest rates will rise further this year.
Analysis: SCRUM Team
