British Pound Sterling Price News and Forecast: GBP/USD has surpassed the 200 Simple Moving Average on the four-hour chart
|GBP/USD breaks above 1.30 as coronavirus fears send USD down
The US dollar is falling alongside ten-year treasuries. Coronavirus fears have risen as three more European countries have confirmed cases of the respiratory disease. American markets initially opened higher before turning down. Investors are flocking into the safety of bonds, pushing returns on treasuries lower and making the greenback less attractive.
GBP/USD: Breakout level to produce a bullish reversal candle for the bull
GBP/USD produced a bearish inside bar on the daily chart yesterday. As expected, the price has been bullish on the H1 chart. The price made a bullish breakout at a significant level of resistance. The pair is trading around the level as of writing. If the level produces a bullish engulfing candle, the buyers may get an opportunity to go long on the pair.
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