Source: PaxForex Premium Analytics Portal, Technical Insight

Today, during the morning Asian session, the pound suddenly found itself under pressure because of reports in the British media that today's monetary policy meeting may still make a step towards negative interest rates.

GBP/USD, 30 min

Pivot: 1.2958

Analysis:

Provided that the currency pair is traded below 1.3000, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.2958
• Take Profit 1: 1.2915
• Take Profit 2: 1.2890

Alternative scenario: 

In case of breakup of the level 1.3000, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.3000
• Take Profit 1: 1.3025
• Take Profit 2: 1.3050

Comment:

RSI shows descending momentum during the day.

Key levels:

GBP/USD, D1

Pivot: 1.2907

Analysis:

While the price is below 1.3175, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2907
• Take Profit 1: 1.2675
• Take Profit 2: 1.2480

Alternative scenario:

If the level 1.3175 is broken-up, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3175
• Take Profit 1: 1.3350
• Take Profit 2: 1.3480

Comment:

RSI indicates that an downtrend continues in the medium term.

Key levels:

We also advise you to pay attention to the following currency pairs for intraday trading:

EUR/USD – buy above 1.1700 with 1.1795 and 1.1820  targets as Take Profit. Alternative scenario - if the level 1.1700 is broken-down, sell with the TP 1.1665  and 1.1630.
USD/CAD - short positions below 1.3180 with 1.3090 and 1.3060 targets as Take Profit. Alternative scenario - if the level of 1.3180 is broken-out,  buy with the targets 1.3215 and 1.3255 as Take Profit.
NZD/USD – buy above 0.6676 with 0.6732 and 0.6474 as Take Profit targets. Alternative scenario - if the level of 0.6676 is broken-down, you should consider selling with the targets 0.6651 and 0.6636 as Take Profit.