GBPUSD Daily Forecast Feb 04 2020

Pound dollar 689875 1

GBPUSD: Sets To Consolidate

The outlook in GBPUSD has turned neutral in the short-term forecast. Support comes at the 1.2988 level while resistance comes at 1.3210 levels. On the downside, below 1.2988 sees a falling threat to 1.2895 level, further down, support comes at 1.2840/1.2790 levels.

On the upside, stability above 1.2988 could mean a return to 1.3090 level. A break will extend the corrective recovery to 1.3150/1.3210 levels. Above 1.3210 sees a bullish move to 1.3275/1.3333 levels.

In conclusion: The GBPUSD sees sideways move within 1.2988/1.3210 range…

Support: 1.2988, 1.2895, 1.2840, 1.2790

Resistance: 1.3090, 1.3150, 1.3210, 1.3275

Key data/events which may affect GBPUSD today:

  • President Donald Trump will deliver his third State of the Union Address on (Tuesday at 21:00 EST). (Wednesday at 02:00 GMT)…Live from hereĀ 

GBPUSD Daily Forecast Feb 04 2020