GBPUSD on Monday rose 0.22% to 1.26292. Things to look out.

GBPUSD Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.22%	27.8 Pips
Week to-date	0.22%	27.8 Pips
November	3.96%	480.8 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD GDP Annualized
Wed 03:05 PM GBP Bank of England Governor Andrew Bailey speech

What happened lately

🇺🇸 U.S. New-Home Sales Change (1-mth) in October below forecast and dropped to -5.6% compared to previous figure 8.6, revised from 12.3% in September

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Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Monday rose 0.22% to 1.26292. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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

Looking ahead for the day, immediate upside resistance level is R1 at 1.2652 with break above could target R2 at 1.26749 or figure level area. While towards the downside, we are looking at daily low of 1.25905 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.26441 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 0.22% over the past few days.

Key levels to watch out: