Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.33012 with a take profit 1.33934.
Bearish Preference:
Enter a Sell position if price trades below 1.32340 with take profit at 1.31403.
Fundamentals:
No Major Fundamentals.
Comment: The cable saw a gap down on Friday, we could attribute that to the stalemate in the Br-exit negotiations, also and increase of COVID infections in the London area has added to the pessimism of the cable. The new mutated string of the virus was discovered in London and this new virus tends to spread infection quicker. These stream of unfortunate event did make the investors selloff the cable. Also the US congress did pass a stimulus bill late Sunday, did trigger optimism for the US economy as the much need stimulus is needed to boost the US economy.
Analysis: SCRUM Team