VasilyTrader

GBPUSD: KEY MOMENT FOR STERLING!

Long
FX:GBPUSD   British Pound / U.S. Dollar

hey guys,

so many speculations about the future direction of sterling:
someone says that it is undervalued and it will soon recover,
someone says that corona will destroy British currency against usd.

to avoid this ambiguity I suggest you watch the reaction of the pair to 1.2 level.
it is truly a key level - brexit low and structure low of 2019!

if bulls manage to break through this level, bullish continuation will be almost inevitable.
I will certainly buy the pair aiming at 1.225 / 1.25.

however, being respected we can expect bearish continuation with a retest of a current low and further decline.

be prepared for both scenarios and act accordingly!

good luck!