Instrument: GBPUSD
Bullish Preference:
Buy position is envisaged if price trades above 1.22205 with take profit at 1.22330.
Bearish Preference:
Sell position is envisaged if price trades below 1.21923 with take profit at 1.21795.
Fundamentals:
3:00pm USD ISM Manufacturing PMI
4:00pm USD Fed Chair Powell Speaks
Comment:
British finance minister Jeremy Hunt poured cold water on growing calls for tax cuts within the governing Conservative Party on Monday, saying he could not commit to any “inflationary” reduction before the next election.
But his message was overshadowed by calls from senior Conservative lawmakers, including Prime Minister Rishi Sunak’s predecessor, for tax cuts to try to close the gap in opinion polls with the opposition Labour Party before an election expected next year.
Analysis: SCRUM Team