GBPUSD Daily Forecast Jan 21 2020

Pound - dollar - 689875

GBPUSD Sees A selling Opportunity Ahead Of U.K Employment Report…

As long as 1.3117 resistance holds on a daily closing basis. The GBPUSD remains on the downside to 1.2925 levels. A halt is likely, it may test the 1.3004 level before attempts to break lower. Anyway; Below 1.2925 aims the 1.2830 levels, further down, support comes in the 1.2725 level.

Minor resistance comes around 1.3045 levels…

On the upside, resistance comes at 1.3004 level ahead of 1.3117 level (main). Above 1.3117 sees recovery threats to 1.3230/1.3283 levels.

In conclusion: The GBPUSD sees downside threats below 1.3117 levels…

Support: 1.2925, 1.2830, 1.2725, 1.2650

Resistance: 1.3004, 1.3117, 1.3230, 1.3283

Key data/events which may affect the GBPUSD today:

  • Average Earnings Index +Bonus (Nov) at 09:30 GMT. The forecast is to inch down a bit 3.1%, from 3.2% a month earlier. A reading above 3.1% may bring a sudden spike to the upside before falling.
  • Claimant Count Change (Dec) at 09:30 GMT. The forecast is to fall by 24.5K, from 28.8K in the preceding month. A reading below 24.5K may bring a sudden spike to the upside before falling.

GBPUSD Daily Forecast Jan 21 2020

MARKET DATA

UPCOMING ECONOMIC EVENTS