Daily Market Analysis 31.10.2022: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference:  
Buy position is envisaged if the price trades above 1.16391 with take profit at  1.16618
Bearish Preference: 
Sell position is envisaged if the price trades below 1.15759 with take profit at 1.15570
None with high impact

GBP handed back some of the week’s near 2% gains on optimism that new British Prime Minister Rishi Sunak will adopt a more fiscally prudent stance than his predecessor Liz Truss set out in her brief tenure.

Analysis: SCRUM Team

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