GBPUSD

12 mars 2020GBPUSD gave back all the gains with the effect of coronavirus. However we still have a big room for recovery. Fundamentally GBP is still supported and BOE made it clear that they will keep supporting the economy with different stimulus package. On the other hand Fed is still not done with interest rates as they can keep cutting rates further in order to stimulate the economy and stop US10-Y dropping to zero. Technically we can see the formation of inverted H&S pattern which can seen as a preview for upcoming bullish trend. 1.24 can be a considered as a level for the last support, while 1.33 will be first TP level