Source: PaxForex Premium Analytics Portal, Technical Insight

According to Reuters, president and CEO of the Federal Reserve Bank of Dallas Kaplan said in an ongoing speech:

• I wouldn't want the Fed to create an obstacle for the Treasury bond market with its actions;
• Once the pandemic is over and we see progress on jobs and inflation, I will be in favor of rolling back QE;
• As for financial markets, I am more concerned about what I don't see than what I do see;
• The Fed's inflation target is still at 2%, even under the new policy strategy;
• I want to see real results, but I will still use forecasts as well.

Pivot: 1.3684

Analysis:

Provided that the currency pair is traded below 1.3715, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.3684
• Take Profit 1: 1.3650
• Take Profit 2: 1.3620

Alternative scenario: 

In case of breakout of the level 1.3715, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.3715
• Take Profit 1: 1.3740
• Take Profit 2: 1.3770

Comment:

RSI shows descending momentum during the day.

Key levels:

GBP/USD, D1

Pivot: 1.3705

Analysis:

While the price is below 1.4000, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.3705
• Take Profit 1: 1.3450
• Take Profit 2: 1.3260

Alternative scenario:

If the level 1.4000 is broken-out, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.4000
• Take Profit 1: 1.4240
• Take Profit 2: 1.4370

Comment:

RSI indicates that a 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 – sell below 1.1910 with 1.1865 and 1.1850 as Take Profit targets. Alternative scenario - if the level of 1.1910 is broken-out, you should consider buying with the targets 1.1925 and 1.1940 as Take Profit.
USD/CAD - long positions above 1.2520 with 1.2610 and 1.2635 targets as Take Profit. Alternative scenario - if the level of 1.2520 is broken-down,  sell with the targets 1.2500 and 1.2480 as Take Profit.
NZD/USD –  buy above 0.6999 with 0.7097 and 0.7117 targets as Take Profit. Alternative scenario - if the level 0.6999 is broken-down, sell with the TP 0.6964 and 0.6944.