GBPUSD Daily Forex forecast – April 20, 2020

Gosh! It’s already Monday. The weekend ran by so fast, the lockdown couldn’t slow it down.

Back to the grind. And we start off with our daily GBPUSD forecasts.

GBPUSD forecast for April 20, 2020.

gbpusd dailyforecast-20-April -2020
Chart of the GBPUSD forecast for April 20, 2020

The GBPUSD has been on a sideways move in the last three trading days.

You can price bouncing off the weekly pivot – 1.2513 and the Support level – 1.2421.

If we are to continue withing this range, then price should go to 1.2421, before shooting up again.

Alternative scenario

A clear break from the range on those levels should give us an indication of whether to go long, long-term – above the pivot or short, short-term below the S38 level.

The fundamentals should give us clear direction on that.

We still have the COVID lock downs burdening world economies.

It’s a wait-and-see game.

Final remarks.

We’ll be back tomorrow.

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