Overall, GBP/USD is trending downwards. Recently, GBP/USD tested and rejected the support level of 1.15000.
Yesterday, U.K. Prime Minister Boris Johnson announced that the U.K. will go into lockdown. Citizens will be banned from leaving their homes.
G7 meetings will be held today in discussion of the economic impact of the coronavirus pandemic. During this time, volatility is expected.
The U.K. flash PMI data will be released later at 1730 (SGT).
If the released PMI data are worse than or as forecasted, look for short-term selling opportunities of GBP/USD if it is below the key level of 1.17. Stay out of GBP/USD if it breaks above the key level of 1.17.
Yesterday, U.K. Prime Minister Boris Johnson announced that the U.K. will go into lockdown. Citizens will be banned from leaving their homes.
G7 meetings will be held today in discussion of the economic impact of the coronavirus pandemic. During this time, volatility is expected.
The U.K. flash PMI data will be released later at 1730 (SGT).
- Flash Manufacturing PMI (Forecast: 45.1, Previous: 51.7 revised from 51.9)
- Flash Services PMI (Forecast: 45.0, Previous: 53.2 revised from 52.3)
If the released PMI data are worse than or as forecasted, look for short-term selling opportunities of GBP/USD if it is below the key level of 1.17. Stay out of GBP/USD if it breaks above the key level of 1.17.