GBP/USD Outlook (18 March 2020)

Overall, GBP/USD is trending downwards. Recently, GBP/USD trended lower, breaking the support level of 1.22745.
The U.K. employment data released yesterday were mixed.

• Average Earnings Index 3m/y (Actual: 3.1%, Forecast: 3.0%, Previous: 2.9%)
  
• Claimant Count Change (Actual: 17.3K, Forecast: 6.2K, Previous: -0.2K revised from 5.5K)
  
• Unemployment Rate (Actual: 3.9%, Forecast: 3.8%, Previous: 3.8%)
  

GBP/USD’s next support level is at 1.20000 and the next resistance level is at 1.22745.
Look for short-term selling opportunities of GBP/USD.