GBPUSD on Monday dropped -0.29% to 1.23491. What we know.

GBPUSD Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	-0.29%	-35.4 Pips
Week to-date	-0.16%	-20.4 Pips
April	-2.17%	-274.3 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

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What can we expect from GBPUSD today?

GBPUSD on Monday dropped -0.29% to 1.23491. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for GBPUSD looks bearish as the pair posted lower in Monday trading session.

Looking ahead for the day, immediate support level is at S1 1.23014 with break below could see further selling pressure towards S2 at 1.22536. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.23921 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.22990 would indicate selling pressure.

For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.16%.

Key levels to watch out: