Categories
Forex

GBPUSD on Thursday dropped -0.21% to 1.26092. Pair in consolidation. What we know.

GBPUSD on Thursday dropped -0.21% to 1.26092. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday -0.21% -26.3 Pips
Week to-date -0.81% -103.3 Pips
June 1.38% 171.4 Pips

Upcoming key events (London Time)

Fri 07:00 AM GBP GDP (3-mth)

What happened lately

🇺🇸 U.S. GDP Annualized in Q1 exceed forecast and rose to 2% compared to previous figure 1.3% in Q4 Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q1 below forecast and dropped to 4.9% compared to previous figure 5% in Q4 Bureau of Economic Analysis


GBPUSD 4-hour Chart by TradingView

What can we expect from GBPUSD today?

GBPUSD on Thursday dropped -0.21% to 1.26092. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.25776 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26669 or trades above daily pivot 1.26222. Break above could target R1 at 1.26539. While to the downside, we are looking at 1.25776 (S1) and daily low of 1.25906 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.25906 would indicate selling pressure.

For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.81%.

Key levels to watch out:

R3 1.27302
R2 1.26985
R1 1.26539
Daily Pivot 1.26222
S1 1.25776
S2 1.25459
S3 1.25013

You might be interested in:

Powell, Financial Stability and Economic Developments. Federal Reserve
International trade in UK nations, regions and cities: 2021. National Statistics
Federal Reserve Board releases results of annual bank stress test, which demonstrates that large banks are well positioned to weather a severe recession and continue to lend to households and businesses even during a severe recession. Federal Reserve
U.S. International Investment Position, 1st Quarter 2023 and Annual Update. Bureau of Economic Analysis
Advance Retail Inventories. Census Bureau
Advance U.S. International Trade in Goods. Census Bureau
Advance Wholesale Inventories. Census Bureau
New Home Sales. Census Bureau
Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau

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.

Leave a Reply

Your email address will not be published. Required fields are marked *