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
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
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).
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.