GBP/USD Outlook (23rd January 2019)

• GBP/USD rally
  
• World Economic Forum annual meetings
  

Price Movement
Since yesterday, GBP/USD rallied for around 100pips before moving down steadily for around 30pips.

Trend
GBP/USD is trending upwards.

Macro Background
None.

Important Issue
The first day of the World Economic Forum annual meeting will start today. Comments made by highly influential figures may cause market volatility.

Technical
GBP/USD rallied, broke the 1.29 level and loses steam before it can go close to the resistance level of 1.30.

Price Levels
Current Price: 1.29485
Next Resistance: 1.3000
Next Support: 1.27431