Source: PaxForex Premium Analytics Portal, Technical Insight
British Prime Minister Johnson: the impact of the third wave of the coronavirus. Reuters reports comments of the prime minister:
- It's worth stressing that the third wave of the coronavirus is now underway in Europe;
- Britain believes that now is not the time to restrict the use of the vaccine, it is important to work together;
- We expect the EU to continue to meet its obligations under the agreement;
- We remain confident in the vaccine supply.
GBP/USD, 30 min
Pivot: 1.3845
Analysis:
Provided that the currency pair is traded above 1.3820, follow the recommendations below:
- Time frame: 30 min
- Recommendation: long position
- Entry point: 1.3845
- Take Profit 1: 1.3875
- Take Profit 2: 1.3890
Alternative scenario:
In case of breakdown of the level 1.3820, follow the recommendations below:
- Time frame: 30 min
- Recommendation: short position
- Entry point: 1.3820
- Take Profit 1: 1.3815
- Take Profit 2: 1.3800
Comment:
RSI shows ascending momentum during the day.
Key levels:
| Resistance | Support |
| 1.3915 | 1.3830 |
| 1.3890 | 1.3815 |
| 1.3875 | 1.3800 |
GBP/USD, D1
Pivot: 1.3868
Analysis:
While the price is above 1.3745, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 1.3868
- Take Profit 1: 1.4010
- Take Profit 2: 1.4180
Alternative scenario:
If the level 1.3745 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 1.3745
- Take Profit 1: 1.3500
- Take Profit 2: 1.3300
Comment:
RSI indicates that an uptrend continues in the medium term.
Key levels:
| Resistance | Support |
| 1.4370 | 1.3745 |
| 1.4180 | 1.3500 |
| 1.4010 | 1.3300 |
We also advise you to pay attention to the following currency pairs for intraday trading:
EUR/USD – buy above 1.1910 with 1.1965 and 1.1985 as Take Profit targets. Alternative scenario - if the level of 1.1910 is broken-down, you should consider selling with the targets 1.1890 and 1.1870 as Take Profit.
USD/CAD - long positions above 1.2500 with 1.2590 and 1.2610 targets as Take Profit. Alternative scenario - if the level of 1.2500 is broken-down, sell with the targets 1.2475 and 1.2455 as Take Profit.
NZD/USD – sell below 0.7115 with 0.7028 and 0.7009 targets as Take Profit. Alternative scenario - if the level 0.7115 is broken-out, buy with the TP 0.7146 and 0.7165.
