GBP/USD Outlook (12th February 2019)

• GBP/USD testing support level
  
• Tentative deal reached to avoid US government shutdown
  
• Speech by BOE Governor Carney
  

Price Movement
Since yesterday, GBP/USD had moved down by around 70pips.

Trend
GBP/USD is trending downwards.

Macro Background
No major economic data release.

Important Issue
U.S. congressional negotiators have reached a tentative deal to fund the government and avoid a future government shutdown. The passing of the deal will prevent those employees who were affected during the 35-day partial government shutdown from having to once again miss future paychecks.

Bank of England governor Mark Carney will be speaking in London about the economic outlook and global trade tensions tonight at 2100 (SGT). Volatility is expected.

Technical
GBP/USD is currently testing the support level of 1.28667.

Price Levels
Current Price: 1.28674
Next Resistance: 1.30000
Next Support: 1.28667