GBPUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.11% | 13.4 Pips |  |
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| Week to-date | 0.14% | 18.1 Pips | |
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| May | 0.14% | 18 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
USD Nonfarm Business Labor Productivity in Q1 preliminary estimate dropped to -2.7% compared to previous figure 1.6% (revised from 1.7%). Bureau of Labor Statistics 🇺🇸 In the week ending 29 April, the Initial Unemployment Insurance Claims rose to 242K compared to previous figure 229K (revised from 230K) Department of Labor 🇺🇸 Goods and Services Trade Balance in March exceed forecast and improved to -64.2$ compared to previous figure -70.6, revised from -70.5$ in February 🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve
What can we expect from GBPUSD today?
GBPUSD on Thursday rose 0.11% to 1.25793. 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 1.25518 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.25986 or trades above daily pivot 1.25752. Break above could target R1 at 1.26027. While to the downside, we are looking at 1.25518 (S1) and daily low of 1.25477 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.25986 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 | 1.26536 |
| R2 | 1.26261 |
| R1 | 1.26027 |
| Daily Pivot | 1.25752 |
| S1 | 1.25518 |
| S2 | 1.25243 |
| S3 | 1.25009 |
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U.S. International Trade in Goods and Services. Census Bureau Housing Vacancies and Homeownership. Census Bureau Rental Vacancy Rate. Census Bureau Federal Reserve issues FOMC statement. Federal Reserve Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
GDP revisions in Blue Book, 2022. National Statistics
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