Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.39491 with take profit at 1.39699.
Bearish Preference:
Sell position is envisaged if price trades below 1.38630 with take profit at 1.38435.
Fundamentals:
7:00pm USD Fed Chair Powell Testifies
Comment: The dollar stabilized in early European trade Tuesday, after handing back some of the previous week’s gains during the previous session, with traders awaiting testimony from Federal Reserve Chair Jerome Powell in the wake of the central bank’s hawkish turn.
Investors await a further re-opening of the U.K. economy on Jul. 19 as well as a Bank of England policy decision, to be handed down on Thursday.
Analysis: SCRUM Team