Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.15149 with take profit at 1.15384.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.14379 with take profit at 1.14168.
Fundamentals:
All Day USD Bank Holiday
Comment:
The U.S. dollar rose to a new two-decade high in early European trade Friday, while the euro slumped to its lowest level since 2002 after Russia halted the supply of gas to Europe, raising fears of energy shortages as winter approaches. GBP/USD fell, also weighed down by rising energy costs. Additionally, Liz Truss, the current foreign secretary, is widely expected to be named new prime minister later today.
Analysis: SCRUM Team