GBPUSD on Thursday dropped -0.54% to 1.22182. What we know.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.54%	-66.3 Pips
Week to-date	-1.28%	-157.8 Pips
November	0.57%	69.8 Pips

Upcoming key events (London Time)

Fri 07:00 AM GBP GDP (3-mth)
Fri 07:00 AM GBP GDP (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

No major activities.

What can we expect from GBPUSD today?

GBPUSD on Thursday dropped -0.54% to 1.22182. 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 1.2184 with break below could see further selling pressure towards S2 at 1.21498. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.23088 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.22122 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:

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