FX.co ★ GBP/USD analysis for 04.30.2020 - Strong upside pressure and upward trend continues on the GBP/USD. Potential test of 1.2575

Corona virus news:

Banks and other lenders have today confirmed that a further three-month extension to the current payment break will be made available to customers that continue to be directly impacted by the fallout from Covid-19.

Technical analysis:

GBP/USD has been trading upwards as I expected. The price tested the level of 1,2520. I still see potential for the further upside towards the levels at 1,2575 and 1,2643.

Trading recommendation:

Watch for potential buying opportunities on the dips using the intraday time frames 15/30 minutes for the better entry. Upward targets are set at 1,2575 and 1,2643. The main cause of the strong upside momentum was the breakout of the consolidation and rejection of the rising trendline.

Major resistance levels and upward targets are set at 1,2575 and 1,2643.