Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.22914 with take profit at 1.23196
Bearish Preference:
Sell position is envisaged if price trades below 1.22157 with take profit at 1.21958
Fundamentals:
3:00PM US DOLLARS: CB Consumer Confidence
Comment:
The dollar was up on Tuesday morning in Asia despite worries about economic recession. Investors await a speech from the European Central Bank (ECB) President Christine Lagarde. Investors are keeping an eye on signs of weakness in recent economic data, which would possibly moderate interest rate hikes. But they are also concerned that it could be a sign of the onset of a difficult period of stagflation.
Analysis: SCRUM Team