GBPUSD on Thursday rose 0.38% to 1.26858. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.38%	48.2 Pips
Week to-date	0.1%	13.3 Pips
December	0.52%	65.9 Pips

Upcoming key events (London Time)

Fri 07:00 AM GBP GDP (3-mth)
Fri 07:00 AM GBP GDP (12-mth)
Fri 07:00 AM GBP Retail Sales Volumes (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇺🇸 U.S. Personal Consumption Expenditures Prices (3-mth) in Q3 below forecast and dropped to 2.6% compared to previous figure 2.8% in Q2 Source: Bureau of Economic Analysis
🇺🇸 U.S. Gross Domestic Product Price Index in Q3 below forecast and dropped to 3.3% compared to previous figure 3.5% in Q2 Source: Bureau of Economic Analysis
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in December below forecast and dropped to -10.5 points compared to previous figure -5.9 points in November
🇬🇧 U.K. Retail Price Index (12-mth) in November below forecast and dropped to 5.3% compared to previous figure 6.1% in October Source: Office for National Statistics
🇬🇧 U.K. CPI Inflation Rate (CPIH) (12-mth) in November below forecast and dropped to 3.9% compared to previous figure 4.6% in October Source: Office for National Statistics

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.38% to 1.26858. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.26331 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26958 or trades above daily pivot 1.26645. Break above could target R1 at 1.27171. While to the downside, we are looking at 1.26331 (S1) and daily low of 1.26118 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.26958 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is mixed as compared to the prior week.

Key levels to watch out: