Daily Market Analysis 23.09.2022: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 1.11943 with take profit at 1.12092
Bearish Preference: 
Sell position is envisaged if price trades below 1.11571 with take profit at 1.11379
9:30am GBP Flash Manufacturing PMI
GBP Flash Services PMI
2:45pm USD Flash Services PMI

GBP/USD fell 0.3% to 1.1223, just off a new 37-year low of 1.1213 hit overnight, with the Bank of England’s move to lift interest rates by 50 basis points on Thursday having little impact on the beleaguered pound.

Analysis: SCRUM Team

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