Source: PaxForex Premium Analytics Portal, Technical Insight

As British Prime Minister B. Johnson stated, he would like restrictive quarantine measures to be removed from the still closed sectors as soon as possible. He promised that the authorities would present a similar schedule for lifting the restrictions this week, but warned that if the virus breaks out of control, he would not hesitate to introduce such measures again.

GBP/USD, 30 min

Pivot: 1.2499

Analysis:

Provided that the currency pair is traded below 1.2520, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.2499
• Take Profit 1: 1.2480
• Take Profit 2: 1.2455

Alternative scenario: 

In case of breakout of the level 1.2520, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.2520
• Take Profit 1: 1.2540
• Take Profit 2: 1.2560

Comment:

RSI shows descending momentum during the day.

Key levels:

GBP/USD, D1

Pivot: 1.2472

Analysis:

While the price is below 1.2540, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2472
• Take Profit 1: 1.2245
• Take Profit 2: 1.2060

Alternative scenario:

If the level 1.2540 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 1.2540
• Take Profit 1: 1.2815
• Take Profit 2: 1.2980

Comment:

RSI indicates that the downtrend continues in the medium term.

Key levels:

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

USD/JPY – sell below 107.50 with 107.20 and 107.05 as Take Profit targets. Alternative scenario - if the level of 107.50 is broken-out, you should consider buying with the targets 107.65 and 107.80 as Take Profit.
USD/CAD - long positions above 1.3520 with 1.3565 and 1.3580 targets as Take Profit. Alternative scenario - if the level of 1.3625 is broken-down, sell with the targets 1.3500 and 1.3480 as Take Profit.
EUR/USD – sell below 1.1330 with 1.1330 and 1.1280 targets as Take Profit. Alternative scenario - if the level 1.1330 is broken-out, buy with the TP 1.1345 and 1.1360.