Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.30197 with take profit at 1.30346
Bearish Preference:
Sell position is envisaged if price trades below 1.29934 with take profit at 1.29789
Fundamentals:
No major Fundamental.
Comment:
The GBP/USD pair edged lower during the Asian session on Tuesday and inched back closer to its lowest level since November 2020 touched last week. Expectations that the Fed would tighten its monetary policy at a faster pace to curb the hottest inflation since 1981 continued lending support to the greenback. The dollar was up on Tuesday morning in Asia, the benchmark U.S. 10-year Treasury yield on Tuesday was just below its three-year high of 2.884% hit on Monday
Analysis: SCRUM Team