GBP/USD Outlook (19 February 2020)

British Pound/U.S. DollarFXCM

Description

⋅ Feb 19, 2020 4:59 AM

Overall, GBP/USD is moving across. Recently, GBP/USD has been testing the support level of 1.29900.
The U.K. employment data released yesterday were mixed.

Average Earnings Index 3m/y (Actual: 2.9%, Forecast: 3.1%, Previous: 3.2%)
Claimant Count Change (Actual: 5.5%, Forecast: 20.2K, Previous: 2.6K revised from 14.9K)
Unemployment Rate (Actual: 3.8%, Forecast: 3.8%, Previous: 3.8%)

The U.K. CPI y/y data will be released later at 1730 (SGT).

CPI y/y (Forecast: 1.6%, Previous: 1.3%)
Core CPI y/y (Forecast: 1.5%, Previous: 1.4%)

Currently, GBP/USD is testing the support level of 1.29900 and the next resistance level is at 1.32000.
Look for short-term buying opportunities of GBP/USD if the released data is better than forecasted.