Trading signals

GBP/USD

GBPUSD

The pound got under pressure after ratings cut by Fitch. Coronavirus headlines, lockdown, BoE's action, economic data – all this should limit the pound's upside movement.

 

The main scenario is a decline towards 1.2200. 

An alternative scenario assumes a recovery move to the 1.2600 resistance.

 

The pound may fall to the 1.2200 mark if the US dollar overcomes 1.2350.

A convincing break through the 1.2450 hurdle is likely to accelerate recovery back towards 1.2600.

 

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