GBPUSD on Thursday rose 0.3% to 1.26030. Pair in consolidation. What is going on.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.3%	37.5 Pips
Week to-date	-0.17%	-21.8 Pips
February	-0.66%	-83.4 Pips

Upcoming key events (London Time)

Fri 07:00 AM GBP Retail Sales Volumes (1-mth)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇺🇸 U.S. Industrial Production (1-mth) in January dropped to -0.1% compared to previous figure 0.1%
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in February rose to 5.2 points compared to previous figure -10.6 points in January
🇺🇸 U.S. Monthly Retail Trade (1-mth) in January dropped to -0.8% compared to previous figure 0.4, revised from 0.6% in December Source: Census Bureau
🇺🇸 In the week ending 10 February, U.S. Initial Unemployment Insurance Claims dropped to 212K compared to previous figure 220K (revised from 218K) Source: Department of Labor
🇺🇸 U.S. New York Empire State Manufacturing Index in February improved to -2.4 points compared to previous figure -43.7 points in January
🇬🇧 U.K. GDP (12-mth) in Q4 flash estimate dropped to -0.2% compared to previous figure 0.3% in Q3 Source: Office for National Statistics
🇬🇧 U.K. GDP (1-mth) in December dropped to -0.1% compared to previous figure 0.3% in November Source: Office for National Statistics
🇬🇧 U.K. Core CPI Inflation Rate (12-mth) in January unchanged at 5.1% compared to previous report in December. Source: Office for National Statistics
🇬🇧 U.K. Retail Price Index (12-mth) in January dropped to 4.9% compared to previous figure 5.2% in December Source: Office for National Statistics

Latest from X (Twitter)

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What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.3% to 1.26030. 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 1.25611 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26040 or trades above daily pivot 1.25826. Break above could target R1 at 1.26244. While to the downside, we are looking at 1.25611 (S1) and daily low of 1.25407 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.26040 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: