Welcome to another week of market insights and commentary.
This could be because the COVID-19 pandemic is affecting every economy in the world.
Last week I mentioned the weekly GDPUSD charts were signalling a big drop.
Is it starting? I don’t know.
But we shall keep looking at the charts for direction.
GBPUSD forecast for today.
We are bearish.
Our target are 1.2377, 1.2311 and 1.2263
Potential trade areas may present themselves after a reversal to 1.2485
A strong pound will see price test the 1.2593 resistance level.
The overall outlook for May is a bearish GBPUSD where we should see price closing below 1.2
Subscribe to our notifications and follow me on Twitter @thetraderinyou to be the first to know when an article like this is published.
Happy trading.#COVID-19 is real, be safe. #Trade safe and follow your rules. #forex #investment Click To Tweet