- GBP/USD testing 1.32 level
- BOE Governor Carney Speaks
- Trump temporarily reopens government
Price Movement
Since last Friday, GBP/USD moved down by around 40pips before moving up for more than 100pips.
Trend
GBP/USD is trending upwards.
Macro Background
No major economic data release.
Important Issue
As BOE Governor Mark Carney is attending a Q&A session about the future of money at the Bank of England’s Future Forum, volatility is to be expected during this period.
U.S. president Donald Trump reopens government temporarily for 3 weeks (through 15th February). During this time, lawmakers will be working to reach a wider deal on immigration. President Trump also threatened to let funding lapse or declare a national emergency to bypass Congress if the immigration deal is not to the president’s liking.
Technical
Last Friday’s rally sent GBP/USD breaking the resistance level of 1.31658.
Currently, GBP/USD is testing the 1.32 level.
Price Levels
Current Price: 1.31910
Next Resistance: 1.32872
Next Support: 1.31658