Main Scenario: As long as GBPUSD stays aboove 1.4142, the main trend will be upwards. Then the pair may go up to to 1.4204 price level
Target Expectation: 1.4204
Considerations Supporting The Scenario:
The dollar is on the ropes, having erased its gains for 2020 versus a basket of currencies. The reversal stems from the Federal Reserve’s apparent resolve to keep printing money at the current pace despite signs of an economic and inflation rebound.
Alternative Scenario: An alternative expectation may be taken into account in case of a close below 1.2138
Alternative Target Expectation: 1.4126