Daily Market Analysis 26/10/2021: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1.37947 with take profit at 1.38043.
Bearish Preference: 
Sell position is envisaged if price trades below 1.37553 with take profit at 1.37438.
No major fundamental

Comment: The dollar was up in early trading Tuesday morning in Asia, following a high reached overnight during the U.S. trading session. The strengthening of the dollar comes as reports in China suggests the government may be shifting its focus away from tighter regulation of sectors it is concerned about and towards shoring up growth.

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