GBPUSD Daily Forex forecast – 1 April 2020

Welcome to April.

Here is a look at our GBPUSD daily forecasts for today, 1 April 2020.

It’s been a quiet trading morning,

This is what the charts are saying

Directional bias.

GBPUSD daily forex forecast chart

Price is sitting at the daily pivot 1.2374. I biased towards the dollar strengthening to support levels S61 1.2233 or S100 1.2146 which is on the weekly pivot 1.2128 

Alternative scenario

If the pound continues with its ascent, then a likelihood is at resistance levels R38 1.246 to R78 1.2553 (the right 30-hour chart).

Final thoughts.

Liquidity is thinning and you should expect dirty, spiky trading until the end of the lockdowns as a result of the COVID-19 virus.

Forex brokers are cutting down leverage while widening their spreads due to the market conditions, so stay alert and trade with caution.

COVID-19 is real, be safe. Trade safe and follow your rules.

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