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Daily Market Analysis 26/11/2021: GBPUSD

bg-temp-gbpusd
Daily Analysis / Online Education

Daily Market Analysis 26/11/2021: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1.33081 with take profit at 1.33180.
Bearish Preference: 
Sell position is envisaged if price trades below 1.32799 with take profit at 1.32671.
Fundamentals:
Tentative USD Treasury Currency Report

Comment: GBP/USD extends the five-day downtrend towards refreshing 2021 low near 1.3300 heading into Friday’s London open. The cable’s latest weakness could be linked to the broad market fears over the coronavirus variant and the Brexit woes. However, bears seem to wait for the outcome of European Commission’s Brexit point person Maroš Šefčovič’s UK visit on Friday, not to forget the UK Health Security Agency (UKHSA) technical briefing to discuss the variant covid variant.

Analysis: SCRUM Team

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