Preference: Buy position is envisaged if price trades above 1.14944 with take profit at key level 1.15376.
Alternative scenario: Sell if price trades below 1.14511 with take profit at 1.13908.
No major economic data with direct bearing on the pair.
Comment: The EU passed a post-pandemic stimulus plan for their corona-virus-hit economies on Tuesday after a fractious summit that lasted almost five days. According to the summit's chairman Mr. Michel, he said, " This agreement sends a concrete signal that Europe is a force for action". Though European nations have done a better job containing the virus, the passage of this corona bill puts the icing on the cake and gives investors a clear signal that the EU is serious in putting its house in order post-COVID.
Preference: Buy position is envisaged if price trades above 1.27199 with take profit at key level 1.27849.
Alternative scenario: Sell if price trades below 1.26698 with take profit at 1.26148.
Comment: The EU passed a post-pandemic stimulus plan for their corona-virus-hit economies on Tuesday after a fractious summit that lasted almost five days. Great Britain not a member country but a country in the region stands a chance to enjoy this boost to the region. Another boost to the pounds came as the German Foreign Minister Heiko Mass signalled that it was possible to reach a Br-exit agreement between EU and Britain by October.
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