The British newspaper Sunday Times wrote that the British government is preparing for a tough Brexit. A high-ranking source at the British Prime Minister's residence said "We're ready to go out." At the same time, on Thursday, David Frost, the chief negotiator for UK exit from the EU, told the Cabinet that this time Brussels "made it clear that we will not extend" the transition period after December 31 - according to EU law, this decision should be taken in June. The Cabinet, as well as other departments that worked on a solution to the crisis caused by the COVID-19 pandemic, are now back to prepare for Brexit.

GBP/USD, 30 min

Pivot: 1.2203

Analysis:

Provided that the currency pair is traded below 1.2220, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.2203
• Take Profit 1: 1.2170
• Take Profit 2: 1.2145

Alternative scenario: 

In case of breakout of the level 1.2220, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.2220
• Take Profit 1: 1.2240
• Take Profit 2: 1.2270

Comment:

RSI shows the possibility of a downtrend during the day.

Key levels:

GBP/USD, D1

Pivot: 1.2190

Analysis:

While the price is below 1.2440, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2190
• Take Profit 1: 1.1950
• Take Profit 2: 1.1685

Alternative scenario:

If the level 1.2440 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 1.2440
• Take Profit 1: 1.2640
• Take Profit 2: 1.2870

Comment:

RSI shows the possibility of a downtrend in the medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intra-day trading:

AUD/USD – buy above 0.6495 with 0.6550 and 0.6565 as Take Profit targets. Alternative scenario - if the level of 0.6495 is broken-down, you should consider selling with the targets 0.6470 and 0.6450 as Take Profit.
USD/CAD - short positions below 1.4000 with 1.3885 and 1.3850 targets as Take Profit. Alternative scenario - if the level of 1.4000 is broken-out, buy with the targets 1.4035 and 1.4060 as Take Profit.
EUR/USD – sell below 1.0925 with 1.0890 and 1.0870 targets as Take Profit. Alternative scenario - if the level 1.0925 is broken-out, buy with the TP 1.0940 and 1.0960.