GBPUSD on Monday rose 0.27% to 1.27704. What we know.

GBPUSD Analysis

Performance after Monday
Period	Pct	Chg	Momentum
Monday	0.27%	34.4 Pips
Week to-date	0.27%	34.4 Pips
May	2.21%	276.7 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

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What can we expect from GBPUSD today?

GBPUSD on Monday rose 0.27% to 1.27704. Price is above 9-Day EMA while Stochastic is rising.

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 1.27877 with break above could target R2 at 1.28051 or figure level area. While towards the downside, we are looking at daily low of 1.27330 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27777 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 0.27% over the past few days.

Key levels to watch out: