Trading signals

GBP/USD

GBPUSD

The UK PM Johnson’s hospitalization and the poor UK data weighed on the pound. Still, the pound's decline might be limited due to growing optimism regarding a slowdown in the spread of the coronavirus.

 

The main scenario is a decline to 1.2080.  

An alternative scenario assumes a recovery to 1.2400.

 

The pound may suffer fresh losses and ease to 1.2080 after breaking 1.2200.

The 1.2350 hurdle is protecting the immediate upside, still if it is broken the pound might visit the 1.2400 area.

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