GBP/USD Outlook (15th August 2019)

Overall, GBP/USD has been trending downwards. Recently, GBP/USD has been ranging across with multiple attempts to break the key level of 1.21.

With the release of the better than forecasted British retail sales m/m data, we may be seeing a fourth attempt of GBP/USD testing the key level of 1.21.

• Retail Sales m/m (Actual: 0.2%, Forecast: -0.3%, Previous: 1.0%)
  

At the moment, GBP/USD is moving away from the support level of 1.20000 and the next resistance level is at 1.22000.