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Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if the price trades above 1.26608 with take profit at 1.26803.
Bearish Preference:
A sell position is envisaged if the price trades below 1.26133 with take profit at 1.25963.
Fundamentals:
None with High Impact
Comment:
The dollar retreated in early European trading on Monday, as investors looked ahead to the release of crucial inflation data later this week and made bets about the Federal Reserve’s future interest rate decisions. Focus this week is squarely on U.S. consumer price index inflation data, which is due out on Wednesday. The reading is expected to show that while inflation eased slightly in April, it still remained well above the Fed’s 2% annual target range.
Source: investing.com
