GBPUSD Daily Forecast Jan 07 2020

Pound - dollar -659856565

GBPUSD: Continues To Recover Above 1.3060 

The short-term outlook in GBPUSD remains on the upside above 1.3065 levels with caution. Resistance comes at 1.3175 levels. A halt is likely, it may test 1.3133 before attempts to break higher. Anyway; above 1.3175 will target 1.3215 levels, further upside, resistance comes at 1.3250 ahead of 1.3300 levels.

Note: Above 1.3175 will pave the way to 1.3250 levels. A failure to break above 1.3175 could mean a return to 1.3133 levels…

On the downside, immediate support comes at 1.3133 levels. A 4- hour closing below that level should weaken the recent recovery and pave the way to 1.3065 levels. Below 1.3065 sees a fall risk to 1.2990 levels, further down, support comes at 1.2925 levels.

In conclusion: The GBPUSD sees recovery threats above 1.3065 levels.

Support: 1.3133, 1.3065, 1.2990, 1.2925, 1.2845

Resistance: 1.3175, 1.3215, 1.3250, 1.3300, 1.3360

Key data/events which may affect GBPUSD today:
  • U.S ISM Non-Manufacturing PMI (Dec) at 15:00 GMT .

GBPUSD Daily Forecast Jan 07 2020

MARKET DATA

UPCOMING ECONOMIC EVENTS