GBP/USD Outlook (20 January 2020)

Overall, GBP/USD is moving across. Recently, GBP/USD rejected the resistance level of 1.30700 and trended lower after the release of the poor retail sales m/m data (Actual: -0.6%, Forecast: 0.5%, Previous: -0.8% revised from -0.6%) last Friday.
GBP/USD’s next support level is at 1.29500 and the next resistance level is at 1.30700.
Look for selling opportunities of GBP/USD while keeping in mind that the support level of 1.29500 is nearby.