GBP/USD Outlook (13 January 2020)

Overall, GBP/USD is moving across. Recently, GBP/USD trended lower, breaking the support level of 1.30700.
Over the weekend, Bank of England MPC member Gertjan Vlieghe said in an interview that he will vote for a rate cut this month if key economic indicators do not perform, causing price to gap downwards when market opened today.
The U.K. GDP m/m data (Forecast: 0.0%, Previous: 0.0%) will be released later at 1730 (SGT).
If the released data is better than (or worse than) forecasted, pound may strengthen (or weaken) respectively.
GBP/USD’s next support level of 1.29500 and the next resistance level is at 1.30700.
Wait for the GDP data to be released before looking for any trading opportunities of GBP/USD.