GBP/USD Outlook (16 October 2020)
Overall, GBP/USD is trending upwards. Recently, GBP/USD bounced off the resistance zone of 1.30200.
Yesterday, European Commission Head of Task Force for Relations with the UK Michel Barnier said that there still exist many unfinished businesses in terms of the Brexit trade deal.
Day 1 of IMF meetings will start today and last throughout the weekend.
Currently, GBP/USD is testing to break below the key level of 1.29. Its next support zone is at 1.28000 and the next resistance zone is at 1.30200.
Look for short-term buying opportunities of GBP/USD if it breaks the resistance zone of 1.30200.
Yesterday, European Commission Head of Task Force for Relations with the UK Michel Barnier said that there still exist many unfinished businesses in terms of the Brexit trade deal.
Day 1 of IMF meetings will start today and last throughout the weekend.
Currently, GBP/USD is testing to break below the key level of 1.29. Its next support zone is at 1.28000 and the next resistance zone is at 1.30200.
Look for short-term buying opportunities of GBP/USD if it breaks the resistance zone of 1.30200.