GBPUSD on Tuesday dropped -0.01% to 1.27098. Pair in consolidation. Things to look out.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.01%	-0.9 Pips
Week to-date	0.21%	26.7 Pips
June	-0.16%	-20.4 Pips

Upcoming key events (London Time)

Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)
Thu 12:00 PM GBP Bank of England Interest Rate Decision (Bank Rate)
Thu 12:00 PM GBP Bank of England MPC Minutes

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in May rose to 0.9% compared to previous figure 0% in April
🇺🇸 U.S. Monthly Retail Trade (1-mth) in May rose to 0.1% compared to previous figure -0.2, revised from 0% in April Source: Census Bureau
🇺🇸 U.S. New York Empire State Manufacturing Index in June improved to -6 points compared to previous figure -15.6 points in May

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.01% to 1.27098. 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 1.26787 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27208 or trades above daily pivot 1.26998. Break above could target R1 at 1.27308. While to the downside, we are looking at 1.26787 (S1) and daily low of 1.26687 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26687 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: