Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if the price trades above 1.21572 with take profit at 1.22331
Bearish Preference:
A Sell position is envisaged if the price trades below 1.20381 with take profit at 1.19980
Fundamentals:
None with High Impact
Comment:
The U.S. dollar slipped lower in early European trade Monday as traders reassessed the likelihood of another rate hike by the Federal Reserve later this month given the ongoing U.S. banking crisis. At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.6% lower at 103.528, trading near a one-month low.
Analysis: SCRUM Team