Daily Market Analysis 19.05.2022: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1.24593 with take profit at 1.24825
Bearish Preference: 
Sell position is envisaged if price trades below 1.24027 with take profit at 1.23786
1:30pm USD Philly Fed Manufacturing Index
             USD Unemployment Claims

Fed Chair Jerome Powell had said earlier in the week that the U.S. central bank would push interest rates as high as needed to stem a surge in inflation, and weak U.S. housing data on Wednesday added to slowdown concerns.

Analysis: SCRUM Team

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