GBP/USD rebounds from the 21-Daily Moving Average (DMA) at the 1.2000 key psychological level. The bounce comes after easing demand for the US Dollar due to backstop plans put forward by major central banks.
Federal Reserve (Fed), Swiss National Bank (SNB), and Bank of England (BoE) intervened with rescue plans, calming risk sentiment fired by liquidity crunch among some regional and international banks.
GBPUSD h1 price is forming a slightly bullish structure. Today, it is possible that the pair will have a correction to the 1.2060 area and then continue to go up. Recommended to wait to buy to 1.2060, SL: 1.2010, TP: 1.2130