GBPUSD on Thursday rose 0.05% to 1.25402. What we know.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.05%	6.5 Pips
Week to-date	0.39%	48.4 Pips
May	0.37%	46.2 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Average Hourly Earnings (1-mth)
Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in March rose to 1.6% compared to previous figure 1.2, revised from 1.4% in February Source: Census Bureau
🇺🇸 U.S. Unit Labor Costs in Q1 preliminary estimate rose to 0.4% compared to previous figure 0.4% Source: Bureau of Labor Statistics
🇺🇸 U.S. Challenger Job Cuts in April dropped to 64.789K compared to previous figure 90.309K in March
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in March dropped to 8.488M compared to previous figure 8.813, revised from 8.756M in February Source: Bureau of Labor Statistics

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.05% to 1.25402. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks bullish as the pair ended higher after Thursday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.25661 with break above could target R2 at 1.25921 or figure level area. While towards the downside, we are looking at daily low of 1.24712 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.25446 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: