Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A buy position is envisaged if price trades above price 1.39040 with take profit at price 1.39238.
Bearish Preference:
A sell position is envisaged if price trades below price 1.38677 with take profit at price 1.38372.
Fundamentals:
No major fundamental.
Comment: The daily chart shows that the medium-term supportive GBP/USD trendline remains in place despite the recent bouts of GBP/USD weakness. While this week’s UK economic calendar is fairly light, the US docket is packed full of potentially market-moving events and releases, and these are the most likely drivers of cable this week, starting with Durable Goods at 12:30 GMT today.
Analysis: SCRUM Team