Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.33434 with take profit at 1.33601.
Bearish Preference:
A Sell position is envisaged if price trades below 1.32972 with take profit at 1.32844 .
Fundamentals:
2:15pm USD ADP Non-Farm Employment Change
4PM USD Fed Chair Powell Testifies
Comment:
The GBP/USD pair extended its steady intraday descent through the early European session and dropped to a fresh 2022 low, around the 1.3270 region in the last hour. In fact, reports indicated that Russia has intensified the bombardment of Ukrainian cities and a large Russian convoy was approaching the capital Kyiv. Apart from this, a goodish rebound in the US Treasury bond yields extended additional support to the buck.
Analysis: SCRUM Team