Source: PaxForex Premium Analytics Portal, Technical Insight
According to the press secretary of the British Prime Minister B. Johnson, the authorities have full confidence in their supply chains for the Coronavirus vaccine. He confirmed that distribution of the vaccine within the United Kingdom would continue on an equitable basis, but refrained from commenting on contractual agreements between AstraZeneca and the EU.
GBP/USD, 30 min
Pivot: 1.3729
Analysis:
Provided that the currency pair is traded above 1.3690, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.3729
- Take Profit 1: 1.3755
- Take Profit 2: 1.3775
Alternative scenario:
In case of breakdown of the level 1.3690, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.3690
- Take Profit 1: 1.3670
- Take Profit 2: 1.3655
Comment:
RSI shows ascending momentum during the day.
Key levels:
| Resistance | Support |
| 1.3800 | 1.3690 |
| 1.3775 | 1.3670 |
| 1.3755 | 1.3655 |
GBP/USD, D1
Pivot: 1.3703
Analysis:
While the price is above 1.3500, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3703
- Take Profit 1: 1.3770
- Take Profit 2: 1.4000
Alternative scenario:
If the level 1.3500 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3500
- Take Profit 1: 1.3280
- Take Profit 2: 1.3100
Comment:
RSI indicates that an uptrend continues in the medium term.
Key levels:
| Resistance | Support |
| 1.4280 | 1.3500 |
| 1.4000 | 1.3280 |
| 1.3770 | 1.3100 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD – sell below 1.2145 with 1.2105 and 1.2090 targets as Take Profit. Alternative scenario - if the level 1.2145 is broken-out, buy with the TP 1.2155 and 1.2170.
USD/CAD - short positions below 1.2820 with 1.2735 and 1.2705 targets as Take Profit. Alternative scenario - if the level of 1.2820 is broken-out, buy with the targets 1.2845 and 1.2875 as Take Profit.
NZD/USD – buy above 0.7170 with 0.7248 and 0.7265 as Take Profit targets. Alternative scenario - if the level of 0.7170 is broken-down, you should consider selling with the targets 0.7142 and 0.7125 as Take Profit.
