so many speculations about the future direction of sterling: someone says that it is undervalued and it will soon recover, someone says that corona will destroy British currency against usd.
to avoid this ambiguity I suggest you watch the reaction of the pair to 1.2 level. it is truly a key level - brexit low and structure low of 2019!
if bulls manage to break through this level, bullish continuation will be almost inevitable. I will certainly buy the pair aiming at 1.225 / 1.25.
however, being respected we can expect bearish continuation with a retest of a current low and further decline.
be prepared for both scenarios and act accordingly!