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GBP / USD: we are waiting for the 1.37 breakdown

The GBP / USD pair today is trying to recover the losses of the previous trading day. Despite the strengthening of the dollar during the Asian trading session, the GBP / USD pair held mainly in positive territory. The overall background remains mixed.

 

Recently British Prime Minister Boris Johnson said that the rate of spread of the coronavirus has slowed down a bit thanks to the implementation of strict quarantine measures.

 

On the chart, buyers are testing the 1.3700 level. We have not yet seen a strong reaction. With a very high probability, we can expect a breakdown of this mark and the continuation of the upward movement. But he did not rule out the possibility of tightening restrictions if the situation deteriorates again. Johnson said specialists are constantly monitoring the situation.

 

There is no important news in the UK economic calendar today. In the US, it is worth paying attention to the publication of weekly statistics on the labor market and the speech of the head of the Fed, Jerome Powell.

 

On the chart, buyers keep trying to overcome the resistance at 1.3700. Today we are waiting for the next price approach to this level. The probability of a breakout remains very high.

 

  • Resistance levels: 1.3700, 1.3800, 1.3960;

 

  • Support levels: 1.3625, 1.3555, 1.3480.

 

The main scenario is a breakdown of resistance at 1.3700.

 

An alternative option is a decline to 1.3555.

 

The current fundamental outlook is neutral. We consider longs at 1.3630.

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