GBP/USD Outlook (28th January 2019)

• GBP/USD testing 1.32 level
  
• BOE Governor Carney Speaks
  
• Trump temporarily reopens government
  

Price Movement
Since last Friday, GBP/USD moved down by around 40pips before moving up for more than 100pips.

Trend
GBP/USD is trending upwards.

Macro Background
No major economic data release.

Important Issue
As BOE Governor Mark Carney is attending a Q&A session about the future of money at the Bank of England’s Future Forum, volatility is to be expected during this period.

U.S. president Donald Trump reopens government temporarily for 3 weeks (through 15th February). During this time, lawmakers will be working to reach a wider deal on immigration. President Trump also threatened to let funding lapse or declare a national emergency to bypass Congress if the immigration deal is not to the president’s liking.

Technical
Last Friday’s rally sent GBP/USD breaking the resistance level of 1.31658.
Currently, GBP/USD is testing the 1.32 level.

Price Levels
Current Price: 1.31910
Next Resistance: 1.32872
Next Support: 1.31658