GBP/USD Outlook (1 November 2019)

Overall, GBP/USD is trending upwards. Recently, GBP/USD is ranging across.

The U.K. manufacturing PMI data will be released later at 1730 (SGT).

Manufacturing PMI (Forecast: 48.2, Previous: 48.3)

If the released data is worse than or as forecasted, the pound may weaken.

Currently, GBP/USD is testing the resistance level of 1.29800. GBP/USD’s next support level is at 1.27400 and the next resistance level is at 1.29800.