GBP/USD Outlook (16 December 2019)

Overall, GBP/USD is trending upwards. Recently, GBP/USD trended lower and bounced off the support level of 1.33200.
The U.K. flash PMI data will be released later at 1730 (SGT).

Flash Manufacturing PMI (Forecast: 49.1, Previous: 48.9 revised from 48.3)
Flash Services PMI (Forecast: 49.6, Previous: 49.3 revised from 48.6)

If the released data are higher than a reading of 50.0, pound may strengthen.
The Bank of England will be releasing the Financial Stability Report and bank stress test results tomorrow at 0000 (SGT).
Currently, GBP/USD is testing to break the key level of 1.34 upwards. Its next support level is at 1.33200 and the next resistance level is at 1.35000.
Look for buying opportunities of GBP/USD if the data release is positive and the key level of 1.34000 is broken upwards.