Daily Market Analysis 25/11/2021: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1.33610 with take profit at 1.33780.
Bearish Preference: 
Sell position is envisaged if price trades below 1.33375 with take profit at 1.33249.
6:00pm GBP BOE Gov Bailey Speaks.

Comment: The Fed indicated that it could pick up the pace on its asset tapering program, and hike interest rates quicker than expected if high inflation persists, in its minutes released on Wednesday. Investors are also looking ahead to whether the Bank of England (BOE) will raise interest rates in its next policy decision on Dec. 16. Investors were surprised when the central bank kept rates steady at its last policy decision earlier in the month, and look to comments from BOE governor Andrew Bailey at Cambridge University later in the day for clues.

Analysis: SCRUM Team

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