GBPUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.04% | 4.8 Pips |  |
||
| Week to-date | 0.21% | 26.5 Pips | |
||
| April | 0.86% | 106.5 Pips | |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇬🇧 GfK Consumer Confidence in April below forecast and improved to -30 points compared to previous figure -36 points in March GfK
In the week ending 15 April, the Initial Unemployment Insurance Claims rose to 245K compared to 240K, revised from 239K in the previous report Department of Labor 🇺🇸 Philadelphia Fed Manufacturing Survey in April exceed forecast and dropped to -31.3 points compared to previous figure -23.2 points in March 🇬🇧 CPI Inflation Rate (12-mth) in March below forecast and dropped to 10.1% compared to previous figure 10.4% in February Office for National Statistics 🇬🇧 Retail Price Index (12-mth) in March exceed forecast and dropped to 13.5% compared to previous figure 13.8% in February
What can we expect from GBPUSD today?
GBPUSD on Thursday rose 0.04% to 1.24395. 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 1.24065 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.24675 or trades above daily pivot 1.2437. Break above could target R1 at 1.247. While to the downside, we are looking at 1.24065 (S1) and daily low of 1.24040 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.24675 may suggest continuation after recent positive movement.
For the week to-date, take note that GBPUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.25335 |
| R2 | 1.25005 |
| R1 | 1.247 |
| Daily Pivot | 1.2437 |
| S1 | 1.24065 |
| S2 | 1.23735 |
| S3 | 1.2343 |
You might be interested in:
Consumer price inflation, UK: March 2023. National Statistics Producer Price Inflation, UK: March 2023 including services, January to March 2023. National Statistics Producer Price Inflation, UK: March 2023 including services, January to March 2023 time series. National Statistics Consumer price inflation, UK: March 2023 time series. National Statistics
Minutes of the Board’s discount rate meetings from February 21 through March 22, 2023. Federal Reserve New Residential Construction. Census Bureau UK labour market: April 2023. National Statistics
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