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FX.co ★ GBP/USD analysis for May 21, 2020 - Completion of the ABC downward correction and start of the new upward swing ? Watch for buying opportunities....

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Forex Analysis:::2020-05-21T11:25:35

GBP/USD analysis for May 21, 2020 - Completion of the ABC downward correction and start of the new upward swing ? Watch for buying opportunities....

Corona News :

GBP/USD analysis for May 21, 2020 - Completion of the ABC downward correction and start of the new upward swing ? Watch for buying opportunities....

Europe is no longer a distant theory, according to the director of the EU agency responsible for advising governments – including the UK – on disease control.

"The question is when and how big, that is the question in my view," said Dr Andrea Ammon, director of the European Centre for Disease Prevention and Control (ECDC).

It has been the unenviable task of scientists to tell it as it is through the coronavirus pandemic. While politicians have been caught offering empty reassurances, the epidemiologists, a job title new to many, have emerged as the straight shooters of the crisis, sometimes to their detriment.

Technical analysis:

GBP has been trading downwards. The price tested the level of 1,2185 and rejected, which is sign that buyers took control. I see GBP higher due to the potential completion of the ABC downward correction.

Trading recommendation:

Support level is set at 1,2185

Analyst InstaForex
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