GBP/USD’s long-term averages are about to cross bearish. The pound was offered in Asia as Prime Minister Johnson was admitted to hospital on for coronavirus-related tests. GBP/USD’s long-term indicator is about to turn bearish for the first time in 11 months. The pair’s 50-day average, which topped out in February and began trending south last month, is on track to cross below its 200-day average. That would be the first bearish crossover or death cross since May 2019. Seasoned traders would argue that death crosses are big-time lagging indicators and often trap sellers on the wrong side of the market. This time, however, it may invite chart-driven selling, as the 14-day relative strength index is biased bearish. Back in May 2019, it was reporting oversold conditions. The macro-environment is also biased bearish, as investors are likely to continue buying US dollars on increasing fears of a prolonged coronavirus-led slowdown in the global economy. Pound offered in Asia The British Pound declined in Asia amid reports that British Prime Minister Boris Johnson is admitted to hospital for tests after showing persistent symptoms of the coronavirus. The official statement read, “On the advice of his doctor, the Prime Minister has tonight been admitted to hospital for tests. This is a precautionary step, as the Prime Minister continues to have persistent symptoms of coronavirus ten days after testing positive for the virus.” With coronavirus tightening its grip around the Downing Street, the pound could remain on the offer in Europe- more so, as the data released early Monday showed the British consumer confidence dropped to the weakest since February 2009. At press time, the spot is trading near 1.2235, having opened the week on a negative note at 1.2214. The pair faced rejection at 1.2264. Technical levels FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Forex Today: Yen falls as equities cheer slowing coronavirus deaths, Oil wilts on OPEC+ meeting delay FX Street 2 years GBP/USD's long-term averages are about to cross bearish. The pound was offered in Asia as Prime Minister Johnson was admitted to hospital on for coronavirus-related tests. GBP/USD's long-term indicator is about to turn bearish for the first time in 11 months. The pair's 50-day average, which topped out in February and began trending south last month, is on track to cross below its 200-day average. That would be the first bearish crossover or death cross since May 2019. Seasoned traders would argue that death crosses are big-time lagging indicators and often trap sellers on the wrong side of the market. This… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.