Daily Market Analysis 23.03.2022: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 1.32824 with take profit at  1.32963.
Bearish Preference: 
Sell position is envisaged if price trades below 1.32448 with take profit at 1.32295.
8:00am        GBP        CPI y/y
1:00pm        GBP        BOE Gov Bailey Speaks

The dollar was up on Wednesday morning in Asia. The GBP/USD pair surrendered its modest intraday gains to the two-and-half-week high and retreated closer to the daily low. The pair was nearly unchanged for the day and had a rather muted reaction to the UK consumer inflation figures.

Analysis: SCRUM Team

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