GBP/USD Outlook (18th September 2019)
Overall, GBP/USD is trending upwards. Recently, GBP/USD tested and rejected the key level of 1.25.
Earlier today, EU Commission President Juncker said that U.K. Prime Minister Boris Johnson assured the EU he wants a Brexit deal but whatever the outcome is, U.K. will leave the EU on the 31 October with or without an agreement.
The British CPI data released was worse than forecasted, leading to the weakening of pound.
GBP/USD’s next support level is at 1.24000 and its next resistance level is at 1.26000.
Earlier today, EU Commission President Juncker said that U.K. Prime Minister Boris Johnson assured the EU he wants a Brexit deal but whatever the outcome is, U.K. will leave the EU on the 31 October with or without an agreement.
The British CPI data released was worse than forecasted, leading to the weakening of pound.
- CPI y/y (Actual: 1.7%, Forecast: 1.8%, Previous 2.1%)
- Core CPI y/y (Actual: 1.5%, Forecast: 1.8%, Previous 1.9%)
GBP/USD’s next support level is at 1.24000 and its next resistance level is at 1.26000.