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Daily Market Analysis 20/07/2021: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1.36616 with take profit at 1.36766.
Bearish Preference: 
Sell position is envisaged if price trades below 1.36025 with take profit at 1.35817.
Fundamentals:
No major fundamental.

Comment: The dollar traded at multi-month highs in Europe Tuesday, continuing to benefit from its safe haven status amid concerns rising Covid-19 will hinder the global economic recovery.

Do not travel to the UK – that is the message from US authorities in response to the surge in COVID-19 cases in the UK. Putting Britain in Level Four may have also come as fears of an even quicker spread of the Delta variant have risen.

Analysis: SCRUM Team

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