GBPUSD on Thursday dropped -0.29% to 1.27584. What we know.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.29%	-37.2 Pips
Week to-date	0.12%	14.7 Pips
June	0.22%	28.2 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 U.S. Producer Price Index ex Food & Energy (1-mth) in May dropped to 0% compared to previous figure 0.5% in April
🇺🇸 U.S. Interest Rate Projections – 2nd year unchanged at 3.1% compared to previous rate 3.1%
🇺🇸 U.S. Interest Rate Projections rose to 5.1% compared to previous rate 4.6%
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Interest Rate Projections – 1st year below forecast and rose to 4.1% compared to previous rate 3.9%
🇺🇸 U.S. Interest Rate Projections – Longer rose to 2.8% compared to previous rate 2.6%
🇺🇸 U.S. Monthly Budget Statement in May dropped to -347$ compared to previous figure 209.5$ in April Source: Bureau of the Fiscal Service
🇺🇸 U.S. CPI Inflation Rate (1-mth) in May dropped to 0% compared to previous figure 0.3% in April Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in May dropped to 3.3% compared to previous figure 3.4% in April Source: Bureau of Labor Statistics
🇬🇧 U.K. GDP (1-mth) in April dropped to 0% compared to previous figure 0.4% in March Source: Office for National Statistics
🇬🇧 U.K. Industrial Production (1-mth) in April dropped to -0.9% compared to previous figure 0.2% in March

Latest from X (Twitter)

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What can we expect from GBPUSD today?

GBPUSD on Thursday dropped -0.29% to 1.27584. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at S1 1.27284 with break below could see further selling pressure towards S2 at 1.26984. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.28076 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.27380 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: