GBPUSD on Monday rose 1.26% to 1.21840. Buying interest. What we know.

GBPUSD on Monday rose 1.26% to 1.21840. Buying interest. What we know.

Open High Low Close
1.20340 1.22000 1.20340 1.21840

Performance after Monday
Period Pct Chg Momentum
Monday 1.26% 151 Pips
Week to-date 1.26% 151 Pips
March 1.18% 143 Pips

Upcoming key events (London Time)

Tue 07:00 AM GBP Claimant Count
Tue 07:00 AM GBP ILO Unemployment Rate (3-mth)
Tue 12:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (1-mth)
Wed 12:30 PM USD Retail Sales (1-mth)
Wed 12:30 PM USD Retail Control Group

What happened lately

No major activities.

What can we expect from GBPUSD today?

GBPUSD on Monday rose 1.26% to 1.21840. 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 at 1.2245 (R1) while on the downside, we are looking at daily low of 1.20340 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.22000 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 1.26% over the past few days.

Key levels to watch out:

R3 1.2411
R2 1.2305
R1 1.2245
Daily Pivot 1.2139
S1 1.2079
S2 1.1973
S3 1.1913

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