GBP/USD Outlook (19th February 2019)

• GBP/USD testing key level
  
• British Average Earnings Index
  

Price Movement
Since yesterday, GBP/USD has been moving on a 50pips range.

Trend
GBP/USD is moving on a downtrend.

Macro Background
The British Average Earnings Index measures the change in the price businesses and the government pays for labor (including bonuses).
It is scheduled for release at 1730 (SGT).
It is expected to perform better than previous month.
If the released data is better than or as expected, we may see a strengthening in pound and GBP/USD will be moving upwards.

Important Issue
None.

Technical
Yesterday, GBP/USD broke the 1.29 key level.
Currently, GBP/USD is again testing the 1.29 key level.

Price Levels
Current Price: 1.29002
Next Resistance: 1.29983
Next Support: 1.28667