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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.22555 with take profit at 1.22752
Bearish Preference:
Sell position is envisaged if price trades below price 1.22140 with take profit at 1.21950
Fundamentals:
No Major Fundamental
Comment:
Major central banks tightened monetary policies last week with interest rate hikes and the Bank of England followed to raise to 1.25% last Wednesday. The Fed vowed last week that its commitment to tame inflation was “unconditional” while Fed Governor Christopher Waller said on Saturday that he would support another hike of 75 basis points in July.
Analysis: SCRUM Team
