GBP/USD Outlook (23 January 2020)

Overall, GBP/USD is moving across. Recently, GBP/USD trended higher, breaking the key level of 1.31 upwards after the release of the positive U.K. CBI Industrial Order Expectations data (Actual: -22, Forecast: -25, Previous: -28), indicating that business optimism improved at the fastest pace since April 2014.
Also, the Brexit bill passed its final stage in the U.K Parliament yesterday and will officially become law once it receives approval from Queen Elizabeth, sparking Brexit optimism.
GBP/USD’s next support level is at 1.30700 and its next resistance level is at 1.32500.
Look for buying opportunities of GBP/USD.

Analysis of GBP/USD will resume on 28 January 2019. Happy Lunar New Year!