GBP/USD Outlook (23 July 2021)

Overall, GBP/USD is trending downwards. Recently, GBP/USD broke above the key level of 1.37.

The UK Retail Sales m/m data (Forecast: -0.2%, Previous: -1.4%) will be released later at 1400 (GMT+8).

The UK flash PMI data will be released later at 1630 (GMT+8).

• Flash Manufacturing PMI (Forecast: 62.3, Previous: 63.9 revised from 64.2)
  
• Flash Services PMI (Forecast: 62.1, Previous: 62.4 revised from 61.7)
  

Currently, GBP/USD is moving towards the resistance zone of 1.38000 and the next support zone is at 1.36000.
Look for short-term buying opportunities of GBP/USD if it breaks the resistance zone of 1.38000.