Instrument: GBPUSD
Technical Analysis
Bullish Preference:
A Buy position is envisaged if price trades above 1.20590 with take profit at 1.20824.
Bearish Preference:
A Sell position is envisaged if price trades below price 1.19873 with take profit at 1.19659.
Fundamentals:
No Major Fundamentals
Comment:
The dollar pared some gains on Thursday after riding long-end U.S. Treasury yields higher overnight, though investors remained on edge going into the year end as initial optimism over China’s reopening fizzled. The uncertainty over the global economic outlook, along with mounting worries about a recession in the United States, saw the two-year Treasury yield, which typically moves in step with interest rate expectations, slip overnight.
Analysis: SCRUM Team
