GBPUSD Analysis
Performance after Thursday | |||||
Period | Pct | Chg | Momentum | ||
Thursday | -0.14% | -18.4 Pips | |||
Week to-date | -0.55% | -70.9 Pips | |||
June | 2.49% | 309.7 Pips |
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Chicago Fed National Activity Index in May below forecast and dropped to -0.15 points compared to previous figure 0.07 points in April
🇬🇧 U.K. Bank of England Interest Rate Decision (Bank Rate) exceed forecast and rose to 5% compared to previous rate 4.5% Bank of England
🇬🇧 U.K. CPI Inflation Rate (CPIH) (12-mth) in May unchanged at 8.7% compared to previous report in April. Office for National Statistics
🇬🇧 U.K. Retail Price Index (12-mth) in May exceed forecast and dropped to 11.3% compared to previous figure 11.4% in April Office for National Statistics
What can we expect from GBPUSD today?
GBPUSD on Thursday dropped -0.14% to 1.27477. Price is above 9-Day EMA while Stochastic is falling in overbought zone.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.27021 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.28394 or trades above daily pivot 1.27708. Break above could target R1 at 1.28163. While to the downside, we are looking at 1.27021 (S1) and daily low of 1.27252 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.27252 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 | 1.29305 |
R2 | 1.2885 |
R1 | 1.28163 |
Daily Pivot | 1.27708 |
S1 | 1.27021 |
S2 | 1.26566 |
S3 | 1.25879 |
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