Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.35817 with take profit at 1.35946 .
Bearish Preference:
Sell position is envisaged if price trades below 1.35645 with take profit at 1.35522 .
Fundamentals:
3:45pm USD Flash Manufacturing PMI
USD Flash Services PMI
4:00pm USD CB Consumer Confidence
Comment:
The GBP/USD pair kicked off the new week on a positive note. The early optimism in the markets faded rather quickly amid intensifying Russia-Ukraine tensions, which forced investors to take refuge in the traditional safe-haven US dollar. The global risk sentiment took a turn for the worst after a Kremlin spokesperson said that there were no concrete plans yet for a meeting between Russian President Vladimir Putin and his American counterpart Joe Biden.
Analysis: SCRUM Team