GBP/USD analysis for May 20, 2020 – The rally started and I see further upside towards the level of 1.2325

By | May 20, 2020
InstaForex
GBP/USD analysis for May 20, 2020 - The rally started and I see further upside towards the level of 1

Relevance up to 07:00 2020-05-21 UTC–5

Corona virus summary:

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Member states have backed a resolution strongly supportive of the World Health Organization, after Donald Trump issued a fresh broadside against the UN body, giving it 30 days to make unspecified reforms or lose out on US funding. None of the WHO’s 194 member states raised objections

Technical analysis:

Trading recommendation:

Watch for buying opportunities on the pullbacks using the intraday time-frames 15/30 minutes for the better entry location.

Main upward targets are set at the price of 1,2325 and 1,2370.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Performed by Petar Jacimovic,
Analytical expert
InstaForex Group © 2007-2020

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