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Instrument: GBPUSD
Bullish Preference:
Buy position is envisaged if price trades above 1.24961 with take profit at 1.25079.
Bearish Preference:
Sell position is envisaged if price trades below 1.24689 with take profit at 1.24579.
Fundamentals:
7:45 pm
GBP BOE Gov Bailey Speaks
Comment:
The GBP/USD pair holds positive ground around 1.2485 during the early European session on Monday. The recovery of the pair is bolstered by the softer US Dollar (USD) and lower US Treasury bond yields. Investors will take more cues from Bank of England (BoE) Governor Andrew Bailey’s speech on Monday ahead of the Federal Open Market Committee (FOMC) Meeting Minutes on Tuesday.
Analysis: SCRUM Team
