GBP/USD Outlook (19 August 2020)

Overall, GBP/USD is trending upwards. Recently, GBP/USD trended higher, breaking the resistance zone of 1.32000.

The UK CPI y/y data will be released later at 1400 (SGT).

• CPI y/y (Forecast: 0.6%, Previous: 0.6%)
  
• Core CPI y/y (Forecast: 1.3%, Previous: 1.4%)
  

Currently, GBP/USD is moving towards the support zone of 1.32000 and the next resistance zone is at 1.34600.
Look for buying opportunities of GBP/USD if it bounces off the support zone of 1.32000.