GBP/USD Outlook (15 October 2020)
Overall, GBP/USD is trending upwards. Recently, GBP/USD trended higher into the resistance zone of 1.30200 after the UK said that it will not abandon trade talks with the EU, sparking optimism.
The EU Economic Summit will be held today whereby Brexit trade negotiations will be carried out. During this time, there may be volatility in GBP.
Currently, GBP/USD is testing the resistance zone of 1.30200 and the next support zone is at 1.28000.
Look for short-term buying opportunities of GBP/USD if it breaks the resistance zone of 1.30200.
The EU Economic Summit will be held today whereby Brexit trade negotiations will be carried out. During this time, there may be volatility in GBP.
Currently, GBP/USD is testing the resistance zone of 1.30200 and the next support zone is at 1.28000.
Look for short-term buying opportunities of GBP/USD if it breaks the resistance zone of 1.30200.