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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.41769 with take profit at 1.41875.
Bearish Preference:
Sell position is envisaged if price trades below 1.41586 with take profit at 141485.
Fundamentals:
None with high impact on the pair.
Comment: The UK’s successful Covid-19 vaccine roll-out has probably contributed to sterling’s firmness these past few months. However, investors were unfazed by concerns about the spread of an Indian variant across northern England mid-May. This suggests the currency markets are not actually focused much on the emergence from the pandemic.
Analysis: SCRUM Team
