GBPUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.29% | -36.1 Pips |  |
||
| Week to-date | 1.07% | 131.9 Pips |  |
||
| April | 1.08% | 132.6 Pips | |
||
Upcoming key events (London Time)
Fri 12:00 AM GBP Good Friday 
Fri 06:00 AM USD Good Friday 
Fri 01:30 PM USD Nonfarm Payroll Employment | Mar
What happened lately
📆 🇺🇸 USD S&P Global Composite PMI | Mar in March below forecast and dropped to 52.3 points compared to previous figure 53.3 points in February. 📆 🇺🇸 USD Goods and Services Trade Balance | Feb in February exceed forecast and dropped to -70.5$ compared to previous figure -68.7, revised from -68.3$ in January. 📆 🇺🇸 USD Factory Orders (1-mth) | Feb in February exceed forecast and improved to -0.7% compared to previous figure -2.1, revised from -1.6% in January. 📆 🇺🇸 USD S&P Global Manufacturing PMI | Mar in March below forecast and dropped to 49.2 points compared to previous figure 49.3 points in February. 📆 🇬🇧 GBP S&P Global/CIPS Manufacturing PMI | Mar in March below forecast and dropped to 47.9 points compared to previous figure 48 points in February.
What can we expect from GBPUSD today?
GBPUSD on Wednesday dropped -0.29% to 1.24649. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.24266 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.25141 or trades above daily pivot 1.24703. Break above could target R1 at 1.25087. While to the downside, we are looking at 1.24266 (S1) and daily low of 1.24320 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.24320 would indicate selling pressure.
For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 1.07% over the past few days.
Key levels to watch out:
| R3 | 1.25908 |
| R2 | 1.25524 |
| R1 | 1.25087 |
| Daily Pivot | 1.24703 |
| S1 | 1.24266 |
| S2 | 1.23882 |
| S3 | 1.23445 |
You might be interested in:
U.S. International Trade in Goods and Services, February 2023. Bureau of Economic Analysis U.S. International Trade in Goods and Services. Census Bureau Manufacturers’ Shipments, Inventories, and Orders. Census Bureau February job openings and layoffs and discharges decrease; quits edge up. Bureau of Labor Statistics Publications Construction Spending. Census Bureau
Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.
