GBP/USD Outlook (16th October 2019)
Overall, GBP/USD is trending upwards. Recently, GBP/USD trended upwards based on optimistic hope on Brexit deal.
The UK’s CPI data will be released at 1630 (SGT).
- CPI y/y (Forecast: 1.8%, Previous: 1.7%)
If the released data is worse than or as expected, the Pound dollar may weaken.
Currently, GBPUSD has broke the resistance level of 1.27400. GBP/USD’s next support level is at 1.27400 and the next resistance level is at 1.29000.
The UK’s CPI data will be released at 1630 (SGT).
- CPI y/y (Forecast: 1.8%, Previous: 1.7%)
If the released data is worse than or as expected, the Pound dollar may weaken.
Currently, GBPUSD has broke the resistance level of 1.27400. GBP/USD’s next support level is at 1.27400 and the next resistance level is at 1.29000.