GBPUSD on Friday rose 0.66% to 1.26928. Week ending 2023-06-30 moved lower by -0.15%. What happened.

GBPUSD Analysis

Performance
Period	Pct	Chg	Momentum
Friday	0.66%	83.4 Pips
Week 2023-06-30	-0.15%	-19.7 Pips
June	2.05%	254.7 Pips

Upcoming key events for the new week (London Time)

Mon 03:00 PM ISM Manufacturing PMI
Tue 06:00 AM Independence Day
Wed 07:00 PM FOMC Meeting Minutes
Thu 01:15 PM ADP Non-Farm Employment Change
Thu 01:30 PM Initial Unemployment Insurance Claims
Thu 03:00 PM ISM Services PMI
Fri 01:30 PM Nonfarm Payroll Employment

What happened over the week

🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in June unchanged at 3% compared to previous report in May. Source: University of Michigan
🇺🇸 U.S. Michigan Index of Consumer Sentiment in June exceed forecast and rose to 64.4 points compared to previous figure 63.9 points in May Source: University of Michigan
🇺🇸 U.S. Personal Income (1-mth) in May rose to 0.4% compared to previous figure 0.3, revised from 0.4% in April Source: Bureau of Economic Analysis
🇬🇧 U.K. GDP (3-mth) in Q1 unchanged at 0.1% compared to previous report in Q4. The actual figure is also in line with the forecast Source: Office for National Statistics
🇺🇸 U.S. GDP Annualized in Q1 exceed forecast and rose to 2% compared to previous figure 1.3% in Q4 Source: Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 below forecast and dropped to 4.9% compared to previous figure 5% in Q4 Source: Bureau of Economic Analysis
🇺🇸 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 Source: 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%) Source: Census Bureau

What can we expect from GBPUSD for the new week and what happened on Friday?

GBPUSD on Friday rose 0.66% to 1.26928. Price is above 9-Day EMA while Stochastic is falling. For the week ending 2023-06-30, the pair dropped -0.15% or -19.7 pips lower.

Looking ahead on Monday, GBPUSD looks bullish as the pair ended higher after Friday trading session.

For the new week, our technical outlook is mixed. To see upside interest, we prefer to look at price breakout of week high of 1.27592 or at least consolidates above Weekly Pivot level of 1.26809. On the downside, we are looking at week low 1.25906 or 1.26025 (WS1) as immediate support level. GBPUSD need to break on either side to indicate a short-term bias. A close below week low of 1.25906 would indicate selling pressure.

For the month of June, GBPUSD is up by 2.05% or 254.7 pips higher.

Weekly key levels to watch out:

You might also be interested in:

GDP quarterly national accounts, UK: January to March 2023 time series Source: National Statistics
GDP quarterly national accounts, UK: January to March 2023 Source: National Statistics
Gross Domestic Product (Third Estimate), Corporate Profits (Revised Estimate), and GDP by Industry, First Quarter 2023 Source: Bureau of Economic Analysis
Powell, Financial Stability and Economic Developments Source: Federal Reserve
International trade in UK nations, regions and cities: 2021 Source: National Statistics
Federal Reserve Board releases results of annual bank stress test, which demonstrates that large banks are well positioned to weather a severe recession and continue to lend to households and businesses even during a severe recession Source: Federal Reserve
U.S. International Investment Position, 1st Quarter 2023 and Annual Update Source: Bureau of Economic Analysis
Advance Retail Inventories Source: Census Bureau
Advance U.S. International Trade in Goods Source: Census Bureau
Advance Wholesale Inventories Source: Census Bureau
New Home Sales Source: Census Bureau
Advance Monthly Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau

#GBPUSD trending on Twitter

[custom-twitter-feeds hashtag=”#GBPUSD” num=3 showheader=false]

Important Notice: We do not endorsed nor verified the posts provided by Twitter widget.