Corona virus summary:
United Kingdom
Asked by the British parliament's health and social care committee to reflect on what he would have done differently,Patrick Vallance said: "I'd be amazed, if when we look back, we don't think: yep we could have done something differently there."
In the early phases, I think if we'd managed to ramp testing capacity quicker it would have been beneficial. And you know for all sorts of reasons that didn't happen.
It's completely wrong to think of testing as the answer - its just part of the system that you need to get right.
The British government has ramped up testing over the past month and 945,299 people have so far been tested, though opposition parties say prime minister Boris Johnsonwas too slow to increase testing.
Technical analysis:
GBP/USD has been trading downwards. The price tested the level of 1,2405 but then it rejected of the rising trendline, which is good sign for the potential rise. I see potential for the upside cycle in the next period towards the levels at 1,2580 and 1,2640.
Trading recommendation:
Watch for potential breakout of the pivot resistance at 1,2485 to confirm further upside movement. In case of the upside breakout, the targets would be set at the prrice of 1,2580 and 1,2640.
Stochastic oscillator is in oversold zone.
Resistance levels are set at the price of 1,2485, 1,2580 and 1,2640.
Support level is set at 1,2400.
