GBPUSD on Thursday rose 0.14% to 1.25541. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.14%	18 Pips
Week to-date	-0.65%	-81.9 Pips
April	-0.55%	-69 Pips

Upcoming key events (London Time)

Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 U.S. Producer Price Index (1-mth) in March dropped to 0.2% compared to previous figure 0.6% in February
🇺🇸 U.S. Monthly Budget Statement in March improved to -236$ compared to previous figure -296$ in February Source: Bureau of the Fiscal Service

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.14% to 1.25541. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.25168 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.25785 or trades above daily pivot 1.25476. Break above could target R1 at 1.2585. While to the downside, we are looking at 1.25168 (S1) and daily low of 1.25103 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.25785 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: