Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1.23959 with take profit at 1.24076
Bearish Preference:
A Sell position is envisaged if the price trades below 1.23646 with take profit at 1.23477
Fundamentals:
No major Fundamentals
Comment:
The dollar languished near an eight-month low on Monday ahead of a slew of central bank meetings this week, while higher Spanish inflation data supported the euro ahead of euro area readings on Wednesday. The U.S. dollar index, which measures the currency against a basket of its peers including the euro, was flat at 101.88, having hit an eight-month low of 101.50 last week.
Analysis: SCRUM Team