GBP/USD Outlook (14 November 2019)

Overall, GBP/USD is ranging across. Recently, GBP/USD has been moving within an 80pips range.
The British CPI y/y data released was worse than forecasted. GBP/USD weakened for a brief duration before recovering.

CPI y/y (Actual: 1.5%, Forecast: 1.6%, Previous: 1.7%)
Core CPI y/y (Actual: 1.7%, Forecast: 1.7%, Previous: 1.7%)

The British retail sales m/m data (Forecast: 0.2%, Previous: 0.0%) will be released at 1730 (SGT).
If the data is better than or as forecasted, pound may strengthen.
GBP/USD next support level is at 1.27400 and the next resistance level is at 1.29800.
If the retail sales data is positive, look for short-term buying opportunities of GBP/USD.