GBP/USD Outlook (9th September 2019)

Overall, GBP/USD is trending upwards. Recently, GBP/USD has been trending upwards.

The British GDP data released earlier was better than forecasted and the pound strengthened.

• GDP m/m (Actual: 0.3%, Forecast: 0.1%, Previous 0.0%)
  

The British employment data will be released tomorrow at 1630 (SGT).

• Average Earnings Index 3m/y (Forecast: 3.7%, Previous: 3.7%)
  
• Claimant Count Change (Forecast:29.3K, Previous: 28.0K)
  
• Unemployment Rate (Forecast: 3.9%, Previous: 3.9%)
  

If the released data are better than or as forecasted, pound may strengthen.

Currently, GBP/USD is testing to break the key level of 1.23 upwards. GBP/USD’s next support level is at 1.22000 and its next resistance level is at 1.24000.