Source: PaxForex Premium Analytics Portal, Technical Insight

As British Prime Minister B. Johnson stated, commenting on the economic impact of the Coronavirus pandemic:

1. The British economy has shown resilience, but difficult times lie ahead.

2. The process of making up for economic losses will be painful and costly, but we will manage.

3. We are entering a phase during which I hope we will be able to implement quarantine measures at the local rather than the national level. 

GBP/USD, 30 min

Pivot: 1.2386

Analysis:

Provided that the currency pair is traded above 1.2335, follow the recommendations below:

• Time frame: 30 min
• Recommendation: long position
• Entry point: 1.2355
• Take Profit 1: 1.2410
• Take Profit 2: 1.2455

Alternative scenario: 

In case of breakdown of the level 1.2335, follow the recommendations below:

• Time frame: 30 min
• Recommendation: short position
• Entry point: 1.2335
• Take Profit 1: 1.2285
• Take Profit 2: 1.2250

Comment:

RSI shows an ascending momentum during the day.

Key levels:

GBP/USD, D1

Pivot: 1.2347

Analysis:

While the price is below 1.2600, follow the recommendations below:

• Time frame: D1
• Recommendation: short position
• Entry point: 1.2237
• Take Profit 1: 1.2245
• Take Profit 2: 1.2060

Alternative scenario:

If the level 1.2600 is broken-out, follow the recommendations below.

• Time frame: D1
• Recommendation: long position
• Entry point: 1.2600
• 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:

AUD/USD – buy above 0.6845 with 0.6875 and 0.6905 as Take Profit targets. Alternative scenario - if the level of 0.6845 is broken-down, you should consider selling with the targets 0.6805 and 0.6790 as Take Profit.
USD/CAD - short positions below 1.3625 with 1.3575 and 1.3540 targets as Take Profit. Alternative scenario - if the level of 1.3625 is broken-out, buy with the targets 1.3655 and 1.3680 as Take Profit.
EUR/USD – buy above 1.1165 with 1.1230 and 1.1195 targets as Take Profit. Alternative scenario - if the level 1.1165 is broken-down, sell with the TP 1.1140 and 1.1120.