- GBP/USD is dropping sharply, now challenging the 1.2900 figure.
- The level to beat for bears is the 1.2846 support.
GBP/USD daily chart
GBP/USD is pulling back down sharply from the 1.3200 figure while trading below the 50 and 100 simple moving averages (SMAs). DXY is up across the board as investors are anticipating an economic package in response to the Coronavirus.
GBP/USD four-hour chart
Resistance: 1.2913, 1.2980, 1.3030
Support: 1.2846, 1.2780, 1.2700
Additional key levels