GBPUSD on Thursday dropped -0.1% to 1.26709. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.1%	-12.7 Pips
Week to-date	1.18%	148.2 Pips
May	1.45%	180.9 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in April dropped to 0% compared to previous figure 0.4% in March
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in May dropped to 4.5 points compared to previous figure 15.5 points in April
🇺🇸 U.S. CPI Inflation Rate (1-mth) in April dropped to 0.3% compared to previous figure 0.4% in March Source: Bureau of Labor Statistics
🇺🇸 U.S. Monthly Retail Trade (1-mth) in April dropped to 0% compared to previous figure 0.6, revised from 0.7% in March Source: Census Bureau
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in April dropped to 0.3% compared to previous figure 0.4% in March Source: Bureau of Labor Statistics
🇺🇸 U.S. New York Empire State Manufacturing Index in May dropped to -15.6 points compared to previous figure -14.3 points in April

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Thursday dropped -0.1% to 1.26709. 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 1.26423 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27008 or trades above daily pivot 1.26716. Break above could target R1 at 1.27001. While to the downside, we are looking at 1.26423 (S1) and daily low of 1.26430 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26430 would indicate selling pressure.

For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 1.18% over the past few days.

Key levels to watch out: