GBPUSD on Wednesday rose 0.28% to 1.24471. End May down by -0.91% or -114.7 pips lower. What we know.

GBPUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.28%	34.9 Pips
Week to-date	0.84%	103.5 Pips
May	-0.91%	-114.7 Pips

Upcoming key events (London Time)

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What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in March dropped to 0.6% compared to previous figure 0.7% (revised from 0.5%)

What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.28% to 1.24471. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.24811 with break above could target R2 at 1.25152 or figure level area. While towards the downside, we are looking at daily low of 1.23470 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.24481 may suggest continuation after recent positive movement.

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

GBPUSD ended month of May trading session down by -0.91% or -114.7 pips lower.

Key levels to watch out:

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