Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.24956 with take profit at 1.25430
Bearish Preference:
Sell position is envisaged if price trades below 1.24350 with take profit at 1.24102
Fundamentals:
Core Retail Sales m/m 1:30 PM
Retail Sales m/m 1:30 PMFed Chair Powell Speaks 7:00 PM
Comment:
The U.S. dollar edged lower in early European trade Tuesday, slipping back from a 20-year high as gains in global equity markets helped risk appetite rebound to the detriment of this safe haven. At 3:15 AM ET (0715 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.2% lower at 103.953, falling back from Friday’s 105 level, its highest since December 2002.
Analysis: SCRUM Team