GBP/USD Outlook (31 January 2020)
Overall, GBP/USD is moving across. Recently, GBP/USD broke the resistance level of 1.30800.
Yesterday, the Bank of England (BoE) kept interest rate unchanged at 0.75% amid speculation that the BoE may issue a surprise cut.
The U.K. will be leaving the European Union today.
Currently, GBP/USD is testing to break above the key level of 1.31. Its next support level is at 1.30800 and the next resistance level is at 1.32500.
As high volatility may take place due to Brexit day, stay out of GBP/USD for now.
Yesterday, the Bank of England (BoE) kept interest rate unchanged at 0.75% amid speculation that the BoE may issue a surprise cut.
The U.K. will be leaving the European Union today.
Currently, GBP/USD is testing to break above the key level of 1.31. Its next support level is at 1.30800 and the next resistance level is at 1.32500.
As high volatility may take place due to Brexit day, stay out of GBP/USD for now.