Source: PaxForex Premium Analytics Portal, Technical Insight

British Prime Minister B. Johnson stated that the second wave of coronavirus must be avoided:

• The schools must be reopened;

• We want to see economic recovery, but it's a long way from there;

• We knew the situation was complicated (commentary on the labor market report).

GBP/USD, 30 min

Pivot: 1.3020

Analysis:

Provided that the currency pair is traded below 1.3060, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.3020
• Take Profit 1: 1.3010
• Take Profit 2: 1.2985

Alternative scenario: 

In case of breakout of the level 1.3060, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.3060
• Take Profit 1: 1.3080
• Take Profit 2: 1.3100

Comment:

RSI shows descending momentum during the day.

Key levels:

GBP/USD, D1

Pivot: 1.3047

Analysis:

While the price is above 1.2760, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3047
• Take Profit 1: 1.3205
• Take Profit 2: 1.3515

Alternative scenario:

If the level 1.2760 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2760
• Take Profit 1: 1.2470
• Take Profit 2: 1.2245

Comment:

RSI indicates that the uptrend continues in the medium term.

Key levels:

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

NZD/USD – sell below 0.6579 with 0.6526 and 0.6512 as Take Profit targets. Alternative scenario - if the level of 0.6579 is broken-out you should consider buying with the targets 0.6602 and 0.6615 as Take Profit.
USD/CAD - long positions above 1.3305 with 1.3380 and 1.3400 targets as Take Profit. Alternative scenario - if the level of 1.3305 is broken-down, sell with the targets 1.3270 and 1.3250 as Take Profit.
EUR/USD – sell below 1.1755 with 1.1695 and 1.1675 targets as Take Profit. Alternative scenario - if the level 1.1755 is broken-out, buy with the TP 1.1775 and 1.1800.