GBP/USD Outlook (12 February 2020)

Overall, GBP/USD is trending downwards. Recently, GBP/USD trended higher.
The U.K. preliminary GDP q/q data (Actual: 0.0%, Forecast: 0.0%, Previous: 0.4% revised from 0.3%) released was as forecasted.
Yesterday during his testification, Bank of England Governor Mark Carney said that the bank expects that “interest rates are going to be relatively low for a period of time, the foreseeable future, and that adjustments to rates will be relatively modest, or certainly upward adjustments to interest rates we would expect to be relatively modest".
GBP/USD’s next support level is at 1.27800 and the next resistance level is at 1.29900.
Stay out of GBP/USD for now.