GBPUSD on Monday rose 0.85% to 1.22790. What we know.

GBPUSD on Monday rose 0.85% to 1.22790. What we know.

Open High Low Close
1.21840 1.22848 1.21650 1.22790

Performance after Monday
Period Pct Chg Momentum
Monday 0.85% 104 Pips
Week to-date 0.85% 104 Pips
March 2.15% 258 Pips

Upcoming key events (London Time)

Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 06:00 PM USD FOMC Monetary Policy Statement
Wed 06:30 PM USD FOMC Press Conference

What happened lately

No major activities.

What can we expect from GBPUSD today?

GBPUSD on Monday rose 0.85% to 1.22790. 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 at 1.23209 (R1) while on the downside, we are looking at daily low of 1.21650 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.22848 would suggest bullish bias 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 0.85% over the past few days.

Key levels to watch out:

R3 1.24407
R2 1.23627
R1 1.23209
Daily Pivot 1.22429
S1 1.22011
S2 1.21231
S3 1.20813

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