GBP/USD Outlook (19th September 2019)

British Pound/U.S. DollarFXCM

Description

⋅ Sep 19, 2019 8:55 AM

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

The British retail sales data released was as forecasted.

Retail Sales m/m (Actual: -0.2%, Forecast: -0.2%, Previous 0.4% revised from 0.2%)

The Bank of England (BoE) will be announcing their interest rate decision at 1900 (SGT). It is expected that they will keep rate unchanged at 0.75% due to the existing Brexit uncertainty.

Currently, GBP/USD is testing the key level of 1.25. Its next support level is at 1.24000 and its next resistance level is at 1.26000.