GBPUSD on Thursday rose 0.23% to 1.25877. Pair in consolidation. What is going on.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.23%	28.3 Pips
Week to-date	-0.95%	-120.4 Pips
December	-0.26%	-33.4 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 U.S. Challenger Job Cuts in November rose to 45.51K compared to previous figure 36.836K in October
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q3 exceed forecast and rose to 5.2% compared to previous figure 4.7% in Q2 Source: Bureau of Labor Statistics

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What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.23% to 1.25877. 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 1.25503 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26126 or trades above daily pivot 1.25814. Break above could target R1 at 1.26189. While to the downside, we are looking at 1.25503 (S1) and daily low of 1.25440 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.26126 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.95%.

Key levels to watch out: