JinDao_Tai

GBP/USD Outlook (24 August 2021)

Long
FX:GBPUSD   British Pound / U.S. Dollar
Overall, GBP/USD is ranging across. Recently, GBP/USD bounced off the support zone of 1.36000 and broke above the key level of 1.37.

The UK flash PMI data released yesterday indicated a slowdown in business activities amid supply shortages affecting output growth.
  • Flash Manufacturing PMI (Actual: 60.1, Forecast: 59.5, Previous: 60.4)
  • Flash Services PMI (Actual: 55.5, Forecast: 59.0, Previous: 59.6 revised from 57.8)

GBP/USD’s next support zone is at 1.36000 and the next resistance zone is at 1.38000.
Look for short-term buying opportunities of GBP/USD.

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