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Daily Market Analysis 20.03.2023: GBPUSD

Instrument: GBPUSD

Technical Analysis

Bullish Preference:  
A buy position is envisaged if the price trades above 1.22174 with take profit at 1.22426.
Bearish Preference: 
A sell position is envisaged if the price trades below price 1.21555 with take profit at 1.21323
Fundamentals:
None with high impact.

Comment: 
The U.S. dollar slipped lower in early European trade Friday and riskier currencies rallied on easing concerns about a global banking crisis. The foreign exchange market has seen a relief rally after a number of large U.S. banks injected $30 billion in deposits, supporting this regional bank which had been caught up in the backwash of the collapse of two other smaller U.S. banks over the past week.

Analysis: SCRUM Team

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