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Daily Market Analysis 21|05|2020: GBPUSD

GBP_USD
Daily Analysis / Online Education

Daily Market Analysis 21|05|2020: GBPUSD

Intraday: Bearish

Technical Analysis

Preference: 
Sell position is envisaged if price trades below 1.21816 with take profit at 1.21492
Alternative scenario: 
Buy position is envisaged if price trades above 1.22198 with take profit at 1.22358
Fundamentals:
GBP  Flash Manufacturing PMI 9:30am
GBP  Flash Services PMI 9:30am
USD  Flash manufacturing PMI 2:45pm
USD Fed. Chair Powell speaks 7:30pm

Comment: The US gained very quickly late last night as reports showed a global economic COVID recovery sentiment. It is stated that most investors are finally confident to see a recovery in the dollar, hence, a bearish move on this pair is envisaged. 

Analysis: SCRUM Team

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