GBP/USD Outlook (03 February 2020)

Overall, GBP/USD is moving across. Recently, GBP/USD trended higher, breaking above the key level of 1.31 as the U.K. leave the European Union.
The U.K. is currently in the Brexit transition period until the end of 2020, whereby both the U.K. and EU will be negotiating for a trade deal.
The U.K. final manufacturing PMI data (Forecast: 49.8, Previous 49.8) will be released later at 1730 (SGT).
If the released data is better than (or worse than) forecasted, pound may strengthen (or weaken).
GBP/USD’s next support level is at 1.31300 and the next resistance level is at 1.32500.
Stay out of GBP/USD for now.