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: 1.3248

Analysis:

Provided that the currency pair is traded above 1.3205, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.3248
• Take Profit 1: 1.3270
• Take Profit 2: 1.3290

Alternative scenario: 

In case of breakdown of the level 1.3205, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.3205
• Take Profit 1: 1.3180
• Take Profit 2: 1.3160

Comment:

RSI shows ascending momentum during the day.

Key levels:

GBP/USD, D1

Pivot: 1.3096

Analysis:

While the price is above 1.2880, follow the recommendations below:

• Time frame: D1
• Recommendation: long position
• Entry point: 1.3096
• Take Profit 1: 1.3270
• Take Profit 2: 1.3515

Alternative scenario:

If the level 1.2880 is broken-down, follow the recommendations below.

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2880
• Take Profit 1: 1.2670
• Take Profit 2: 1.2470

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 – buy above 0.6519 with 0.6565 and 0.6578 as Take Profit targets. Alternative scenario - if the level of 0.6519 is broken-down you should consider selling with the targets 0.6497 and 0.6484 as Take Profit.
USD/CAD - short positions below 1.3195 with 1.3155 and 1.3130 targets as Take Profit. Alternative scenario - if the level of 1.3195 is broken-out, buy with the targets 1.3215 and 1.3235 as Take Profit.
EUR/USD – buy above 1.1850 with 1.1900 and 1.1915 targets as Take Profit. Alternative scenario - if the level 1.1850 is broken-down, sell with the TP 1.1830 and 1.1810.