GBP/USD Outlook (03 January 2020)

Overall, GBP/USD is moving across. Recently, GBP/USD trended lower, breaking the support level of 1.31700.
The U.K. final manufacturing PMI data (Actual: 47.5, Forecast: 47.6, Previous: 47.4) released yesterday was slightly below the forecasted value and the U.K.’s manufacturing sector is still in contraction.
GBP/USD’s next support level is at 1.31700 and the next resistance level is at 1.33200.
Look for short-term selling opportunities of GBP/USD if it breaks the key level of 1.31 downwards.