Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.35935 with take profit at 1.36074.
Bearish Preference:
A Sell position is envisaged if price trades below 1.35773 with take profit at 1.35657.
Fundamentals:
None with high impact
Comment:
GBP/USD reversed direction and recovered after dropping below 1.3550 on Tuesday but has struggled to preserve its bullish momentum during the European trading hours on Wednesday. The pair faces strong resistance at 1.3630 and buyers could remain hesitant unless that level turns into support.
Analysis: SCRUM Team