Instrument: GBPUSD
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 1.20023 with take profit at 1.20206
Bearish Preference:
Sell position is envisaged if price trades below price 1.19637 with take profit at 1.19425
Fundamentals:
No major fundamentals
Comment:
Boris Johnson is to resign as Conservative Party leader on Thursday but intends to stay on as Prime Minister until the autumn (September). Tax cuts, however, may be hard to deliver. The Office for Budget Responsibility warned in a regular update on fiscal risks on Thursday that either spending cuts or tax increases will be necessary later this year to put public debt back on a sustainable path.
Analysis: SCRUM Team