Jin_LCMSTraders

GBP/USD Outlook (18 February 2020)

FX:GBPUSD   British Pound / U.S. Dollar
Overall, GBP/USD is moving across. Recently, GBP/USD trended lower into the support level of 1.29900.
The U.K. employment data will be released later at 1730 (SGT).
  • Average Earnings Index 3m/y (Forecast: 3.1%, Previous: 3.2%)
  • Claimant Count Change (Forecast: 20.2K, Previous: 14.9K)
  • Unemployment Rate (Forecast: 3.8%, Previous: 3.8%)
If the released data are better than or as forecasted, GBP may strengthen.
Currently, GBP/USD is testing the support level of 1.29900 and the next resistance level is at 1.32000.
Look for buying opportunities of GBP/USD if the employment data released are positive and that GBP/USD rejects the support level of 1.29900.

Comments

Hi Jin!

Thanks so very much for sharing your insight!
Reply
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