GBP/USD Outlook (20th September 2019)

Overall, GBP/USD is trending upwards. Recently, GBP/USD trended higher after European Commission President Jean-Claude Juncker said in an interview that he thinks there will be a Brexit deal. He also said that he is prepared to remove the Irish backstop from the withdrawal agreement as long as alternative arrangements are made to achieve all the main objectives of the backstop.

Yesterday, the Bank of England (BoE) keep interest rates unchanged at 0.75%.

Currently, GBP/USD is moving towards the resistance level of 1.26000 and its next support level is at 1.24000.