GBP/USD Outlook (11 November 2019)
Overall, GBP/USD is trending upwards. Recently, GBP/USD has been trending lower after the recent Bank of England’s interest rate decision.
The British GDP data will be released at 1730 (SGT).
Currently, GBP/USD is testing the key level of 1.28. Its next support level is at 1.27400 and the next resistance level is at 1.29800.
Wait for the GDP data to be released before looking for short-term selling opportunities of the GBP/USD after it breaks the key level of 1.28 downwards.
The British GDP data will be released at 1730 (SGT).
- Preliminary GDP q/q (Forecast: 0.4%, Previous: -0.2%)
- GDP m/m (Forecast: -0.1%, Previous -0.1%)
Currently, GBP/USD is testing the key level of 1.28. Its next support level is at 1.27400 and the next resistance level is at 1.29800.
Wait for the GDP data to be released before looking for short-term selling opportunities of the GBP/USD after it breaks the key level of 1.28 downwards.