Daily Market Analysis 23|07|2020: GBPUSDJuly 23, 2020 2020-07-23 9:05
Daily Market Analysis 23|07|2020: GBPUSD
Buy position is envisaged if price trades above 1.27587 with take profit at 1.27927.
Sell position is envisaged if price trades below 1.27163 with take profit at key level 1.26742.
No major economic data with direct bearing to this pair.
Comment: The strength of the pounds sterling came as a result of negative news coming from the U.S and the current U.S/china tensions. Most investors are still uncertain to price in because they’re confused as to how the U.S decision against china will affect the U.S; this fear and uncertainty has made GBPUSD to bounce off a support yesterday and making it to possibly keep pushing up till the 1.30 level.
Analysis: SCRUM Team