GBP/USD Outlook (10th October 2019)
Overall, GBP/USD is trending downwards. Recently, GBP/USD has been trending downwards.
Yesterday, it was reported that the European Union (EU) may be offering the U.K a mechanism for the Northern Irish assembly to leave a new Irish backstop after a set number of years. As a result, the pound strengthened.
The U.K. GDP data released was worse than forecasted.
GBP/USD’s next support level is at 1.20000 and the next resistance level is at 1.23000.
Yesterday, it was reported that the European Union (EU) may be offering the U.K a mechanism for the Northern Irish assembly to leave a new Irish backstop after a set number of years. As a result, the pound strengthened.
The U.K. GDP data released was worse than forecasted.
- GDP m/m (Actual: -0.1%, Forecast: 0.0%, Previous: 0.3%)
GBP/USD’s next support level is at 1.20000 and the next resistance level is at 1.23000.