GBPUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.08% | -9.8 Pips |  |
||
| Week to-date | 0.69% | 84.7 Pips |  |
||
| May | -0.08% | -9.4 Pips | |
||
Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 In the week ending 27 May, the Initial Unemployment Insurance Claims rose to 232K compared to previous figure 229K Department of Labor 🇺🇸 Nonfarm Business Labor Productivity in Q1 below forecast and improved to -2.1% compared to previous figure -2.7% in Q4 Bureau of Labor Statistics
What can we expect from GBPUSD today?
GBPUSD on Thursday dropped -0.08% to 1.24283. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.24029 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.24480 or trades above daily pivot 1.24254. Break above could target R1 at 1.24509. While to the downside, we are looking at 1.24029 (S1) and daily low of 1.24000 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.24000 would indicate selling pressure.
For the week to-date, take note that GBPUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.24989 |
| R2 | 1.24734 |
| R1 | 1.24509 |
| Daily Pivot | 1.24254 |
| S1 | 1.24029 |
| S2 | 1.23774 |
| S3 | 1.23549 |
You might be interested in:
Minutes of the Board’s discount rate meetings from April 10 through May 3, 2023. Federal Reserve
Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.
