GBPUSD Daily Forecast Aug 13 2020

Pound-dollar-9865956_re

GBPUSD: Continues To Consolidate With Upside Bias…

The outlook in GBPUSD has turned neutral with risk to the upside, support comes at the 1.2978 levels while resistance comes at the 1.3210 levels. On the upside, above 1.3210 restores the upside momentum and target 1.3283 levels. A halt is likely, it may test 1.3210 before attempts to break above 1.3283 levels. (It may also spike to 1.3283 before closing below 1.3210). Anyway; above 1.3283 aims the 1.3420 levels, further upside, resistance comes in the 1.3513 levels.

On the downside, support comes at 1.2978 levels. Below 1.2978 sees corrective pullback threats to 1.21812 levels, further down, will extend the corrective pullback to 1.2665 levels.

In conclusion: The GBPUSD sees consolidation move within 1.2978/1.3210 range…

Support: 1.2978, 1.2812, 1.2665, 1.2515

Resistance: 1.3210, 1.3283, 1.3420, 1.3513

Key data/events which may affect GBPUSD today:

  • U.S Initial Jobless Claims at 12:30 GMT.
GBPUSD Daily Forecast Aug 13 2020

MARKET DATA

UPCOMING ECONOMIC EVENTS