GBPUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.32% | 40.2 Pips |  |
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| Week to-date | 0.9% | 111.4 Pips | |
||
| April | 1.57% | 193.1 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD Retail Trade Turnover (1-mth) | Mar Fri 03:00 PM USD Michigan Index of Consumer Sentiment | Apr flash
What happened lately
🇺🇸 📆 USD In the week ending 08 April, the Initial Unemployment Insurance Claims rose to 239K compared to previous figure 228K Department of Labor
📆 🇬🇧 GBP NIESR GDP Estimate (3M) | Mar in March exceed forecast and rose to 0.1% compared to previous figure -0.1% in February NIESR 📆 🇬🇧 GBP Gross Domestic Product (1-mth) | Feb in February below forecast and dropped to 0% compared to previous figure 0.4, revised from 0.3% in January Office for National Statistics 📆 🇬🇧 GBP Industrial Production (1-mth) | Feb in February below forecast and improved to -0.2% compared to previous figure -0.5, revised from -0.3% in January 
📆 🇨🇳 CNY Trade Balance in USD | Mar in March exceed forecast and dropped to 88.19$ compared to previous figure 116.8$ in February 📆 🇺🇸 USD Monthly Budget Statement | Mar in March exceed forecast and dropped to -378$ compared to previous figure -262$ in February. 📆 🇺🇸 USD CPI Inflation Rate (12-mth) | Mar in March below forecast and dropped to 5% compared to previous figure 6% in February Bureau of Labor Statistics
What can we expect from GBPUSD today?
GBPUSD on Thursday rose 0.32% to 1.25241. 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 1.25485 with break above could target R2 at 1.25728 or figure level area. While towards the downside, we are looking at daily low of 1.24774 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.25373 may suggest continuation after recent positive movement.
For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 0.9% over the past few days.
Key levels to watch out:
| R3 | 1.26084 |
| R2 | 1.25728 |
| R1 | 1.25485 |
| Daily Pivot | 1.25129 |
| S1 | 1.24886 |
| S2 | 1.2453 |
| S3 | 1.24287 |
You might be interested in:
Index of Production, UK time series: February 2023. National Statistics GDP monthly estimate, UK: February 2023. National Statistics Index of Production, UK: February 2023. National Statistics UK trade: February 2023. National Statistics UK trade: February 2023 time series. National Statistics GDP monthly estimate, UK: February 2023 time series. National Statistics
Minutes of the Federal Open Market Committee, March 21-22, 2023. Federal Reserve CPI for all items rises 0.1% in March as shelter increases. Bureau of Labor Statistics Publications
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