Trading signals

GBP/USD

GBPUSD

Coronavirus headlines sent traders to the safety of the US dollar. Markets are guessing whether the BoE will cut rate the next week or will leave its policy unchanged.

 

The main scenario assumes a decline to the level of 1.3070.

An alternative scenario is a recovery to the resistance 1.3160.

 

Trading recommendations

 

A sustained break below 1.3110 will trigger more losses towards 1.3070.

A recovery to the level 1.3160 will become possible after breaking 1.3140. 

 

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