Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.37782 with take profit at 1.37939.
Bearish Preference:
Sell position is envisaged if price trades below 1.37235 with take profit at 1.37088.
Fundamentals:
3:00pm USD CB Consumer Confidence
Comment: The dollar edged higher in early European trading Tuesday, elsewhere, GBP did a bit of recovering yesterday against the USD later hours of yesterday. Sterling is expected to stand firm mainly due to news of mobility restrictions lifted in England on the back of the country’s successful vaccination program. The main U.S. economic release Tuesday will be the March CB consumer confidence figure, which is expected to show an improvement as states reopen and the U.S. vaccination program continues apace.
Analysis: SCRUM Team