GBPUSD on Thursday rose 0.25% to 1.25264. How it happened.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.25%	31 Pips
Week to-date	-0.14%	-18 Pips
May	0.26%	32.7 Pips

Upcoming key events (London Time)

Fri 07:00 AM GBP GDP (3-mth)
Fri 07:00 AM GBP GDP (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

🇺🇸 In the week ending 04 May, U.S. Initial Unemployment Insurance Claims rose to 231K compared to previous figure 209K (revised from 208K) Source: Department of Labor
🇬🇧 U.K. Bank of England Interest Rate Decision (Bank Rate) unchanged at 5.25% compared to previous rate 5.25% Source: Bank of England

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.25% to 1.25264. 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 1.25559 with break above could target R2 at 1.25853 or figure level area. While towards the downside, we are looking at daily low of 1.24452 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.25300 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: