GBP/USD Outlook (10th October 2019)

FX:GBPUSD   British Pound / U.S. Dollar
Overall, GBP/USD is trending downwards. Recently, GBP/USD has been trending downwards.

Yesterday, it was reported that the European Union (EU) may be offering the U.K a mechanism for the Northern Irish assembly to leave a new Irish backstop after a set number of years. As a result, the pound strengthened.

The U.K. GDP data released was worse than forecasted.
  • GDP m/m (Actual: -0.1%, Forecast: 0.0%, Previous: 0.3%)

GBP/USD’s next support level is at 1.20000 and the next resistance level is at 1.23000.
This morning, during the U.S session alot of sellers thought the market was going down. Alot of people, earlier today on the gbp/usd were on the sell side and they all got blown out of the water while our subscribers, in our trading group, made excellent profits. We made over $4,000 today in less than 5 minutes !! Crazy...lol...
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