Instrument: GBPUSD
Intraday: Bearish
Technical Analysis
Preference:
Sell position is envisaged if price trades below 1.25210 with take profit at key level 1.24862.
Alternative scenario:
Buy position is envisaged if price trades above 1.25706 with take profit at 1.26014.
Fundamentals:
No fundamental with direct impact on the pair
Comment: The dollar strengthened between yesterday and today after news of positive outcomes on the COVID 19 Vaccine testing, hence, GBPUSD dropped. Technically, it got rejected at a resistance and it is envisaged to keep on dropping if it breaks the verified support.
Analysis: SCRUM Team