GBPUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.85% | -108.7 Pips |  |
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| Week to-date | -0.57% | -72.9 Pips | |
||
| June | 1.63% | 202.6 Pips |  |
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Upcoming key events (London Time)
Thu 07:30 AM USD Federal Reserve Chair Jerome Powell speech Thu 01:30 PM USD GDP Annualized
Fri 07:00 AM GBP GDP (3-mth)
What happened lately
🇺🇸 U.S. New Residential Sales (1-mth) in May exceed forecast and rose to 0.763M compared to previous figure 0.68, revised from 0.683M in April Census Bureau 🇺🇸 U.S. Housing Price Index (1-mth) in April exceed forecast and rose to 0.7% compared to previous figure 0.5, revised from 0.6% in March 🇺🇸 U.S. Durable Goods Orders excluding Transportation in May rose to 0.6% compared to previous figure -0.6% (revised from -0.2%) Census Bureau
What can we expect from GBPUSD today?
GBPUSD on Wednesday dropped -0.85% to 1.26396. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks bearish as the pair posted lower in Wednesday trading session.
Looking ahead for the day, immediate support level is at S1 1.258 with break below could see further selling pressure towards S2 at 1.25204. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.27520 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.26064 would indicate selling pressure.
For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.57%.
Key levels to watch out:
| R3 | 1.28712 |
| R2 | 1.28116 |
| R1 | 1.27256 |
| Daily Pivot | 1.2666 |
| S1 | 1.258 |
| S2 | 1.25204 |
| S3 | 1.24344 |
You might be interested in:
Advance Retail Inventories. Census Bureau Advance U.S. International Trade in Goods. Census Bureau Advance Wholesale Inventories. Census Bureau New Home Sales. Census Bureau Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
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