GBP/USD Outlook (17 January 2020)

Overall, GBP/USD is moving across. Recently, GBP/USD moved higher into the resistance level of 1.30700.
The U.K. retail sales m/m data (Forecast: 0.5%, Previous: -0.6%) will be released later at 1730 (SGT).
If the data is better than forecasted, pound may strengthen.
GBP/USD’s next support level is at 1.29500 and the next resistance level is at 1.30700.
If the retail sales data release is positive, look for buying opportunities of GBP/USD.