GBP/USD Outlook (8th February 2019)

• GBP/USD rejected key levels
  

Price Movement
Since yesterday, GBP/USD has been moving indecisively, moving down by around 65pips, followed by an upward move of around 140pips and coming back down by around 50pips.

Trend
GBP/USD is currently moving on a downtrend.

Macro Background
No significant economic data release.

Important Issue
None.

Technical
Yesterday, GBP/USD tested and rejected both the support level of 1.28667 and the 1.30 key level.

Price Levels
Current Price: 1.29497
Next Resistance: 1.30000
Next Support: 1.28667