Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.34973 with take profit at 1.35134.
Bearish Preference:
Sell position is envisaged if price trades below 1.34648 with take profit at 1.34487.
Fundamentals:
4:00pm USD CB Consumer Confidence
Comment: The dollar was up on Tuesday morning in Asia, with the safe-haven asset remaining near a two-week high. Concerns about faster-than-expected U.S. Federal Reserve monetary policy tightening and possible armed conflict in Ukraine also continued to mount. In the meantime, pressures on PM Boris Johnson keep mounting after the so-called Downing Street No 10 “party gate” came known by December of 2021. Johnson’s approval ratings are plunging, and reported by CNN, “there appears to be a growing sense among some parts of his ruling Conservative Party that he is becoming a liability.” In the last week, two polls suggested that two-thirds of voters want him to resign.
Analysis: SCRUM Team