GBPUSD on Monday dropped -0.02% to 1.24478. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	-0.02%	-2.2 Pips
Week to-date	-0.02%	-2.2 Pips
April	-1.4%	-176.4 Pips

Upcoming key events (London Time)

Tue 07:00 AM GBP Labour Market Employment Change
Tue 07:00 AM GBP ILO Unemployment Rate (3-mth)
Tue 06:00 PM GBP Bank of England Governor Andrew Bailey speech
Tue 06:15 PM USD Federal Reserve Chair Jerome Powell speech
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)

What happened lately

🇺🇸 U.S. New York Empire State Manufacturing Index in April improved to -14.3 points compared to previous figure -20.9 points in March
🇺🇸 U.S. Monthly Retail Trade (1-mth) in March dropped to 0.7% compared to previous figure 0.9, revised from 0.6% in February Source: Census Bureau

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Monday dropped -0.02% to 1.24478. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.24227 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.24984 or trades above daily pivot 1.24606. Break above could target R1 at 1.24856. While to the downside, we are looking at 1.24227 (S1) and daily low of 1.24355 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.24355 would indicate selling pressure.

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

Key levels to watch out: