GBP/USD Outlook (28 January 2020)

Overall, GBP/USD is moving across. Recently, GBP/USD trended lower into the support level of 1.30700.
The U.K. PMI data released were better than forecasted. GBP/USD strengthened initially but lost its gains and weakened further shortly after.

• Flash Manufacturing PMI (Actual: 49.8, Forecast: 48.8, Previous: 47.5 revised from 47.4)
  
• Flash Services PMI (Actual: 42.9, Forecast: 51.1, Previous: 50.0 revised from 49.0)
  

Currently, GBP/USD is testing the support level of 1.30700 and its next resistance level is at 1.32500.
Look for selling opportunities of GBP/USD if it breaks the support level of 1.30700.