Daily Market Analysis 23.05.2022: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1.25816 with take profit at 1.26090
Bearish Preference: 
Sell position is envisaged if price trades below 1.24958 with take profit at 1.24666
3:15pm BOE Gov Bailey Speaks

The U.S. dollar weakened in early European trade Monday, with risk sentiment boosted by hopes that loosening lockdowns in China The safe haven dollar appears to have lost momentum with risk sentiment on the rise, boosted by the news that Shanghai, China’s commercial hub, is set to lift its city-wide lockdown and return to more normal life from June 1.can help global growth.

Analysis: SCRUM Team

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