Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1.20562 with take profit at 1.20821
Bearish Preference:
A Sell position is envisaged if the price trades below 1.20038 with take profit at 1.19749
Fundamentals:
None with High Impact
Comment:
The U.S. dollar weakened in early European trade Friday, on course for a weekly loss, amid uncertainty over the extent of the Federal Reserve’s future tightening path. GBP/USD rose 0.3% to 1.1980, remaining under 1.20 as expectations grow that the Bank of England will pause its tightening cycle before its major peers given the weakness of the U.K. economy.
Analysis: SCRUM Team
