GBPUSD on Thursday rose 0.58% to 1.23860. What we know.

GBPUSD on Thursday rose 0.58% to 1.23860. What we know.

GBPUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday 0.58% 72 Pips
Week to-date 1.28% 156 Pips
March 3.05% 366.5 Pips

Upcoming key events (London Time)

Fri 07:00 AM GBP GDP (3-mth) | Q4

What happened lately

๐Ÿ“† ๐Ÿ‡บ๐Ÿ‡ธ USD Core Personal Consumption Expenditures (3-mth) | Q4 in Q4 exceed forecast and rose to 4.4% compared to previous figure 4.3% in Q3. Source: Bureau of Economic Analysis
๐Ÿ“† โ˜ข๏ธ ๐Ÿ‡บ๐Ÿ‡ธ USD GDP Annualized | Q4 in Q4 below forecast and dropped to 2.6% compared to previous figure 2.7% in Q3. Source: Bureau of Economic Analysis
๐Ÿ“† ๐Ÿ‡บ๐Ÿ‡ธ USD Pending Home Sales (1-mth) | Feb in February exceed forecast and dropped to 0.8% compared to previous figure 8.1% in January.

GBPUSD 4-hour Chart by TradingView

What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.58% to 1.23860. Price is above 9-Day EMA while Stochastic is rising.

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 at 1.24219 (R1) while on the downside, we are looking at daily low of 1.22920 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.23929 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 1.28% over the past few days.

Key levels to watch out:

R3 1.25228
R2 1.24579
R1 1.24219
Daily Pivot 1.2357
S1 1.2321
S2 1.22561
S3 1.22201

You might be interested in:

Gross Domestic Product, Fourth Quarter and Year 2022 (Third Estimate), GDP by Industry, and Corporate Profits Source: Bureau of Economic Analysis
U.S. International Investment Position, 4th Quarter and Year 2022 Source: Bureau of Economic Analysis
Public service productivity, healthcare, England: financial year ending 2021 Source: National Statistics
The employment-population ratio and changes in the UK labour market: 2008 to 2023 Source: National Statistics
Advance Retail Inventories Source: Census Bureau
Advance U.S. International Trade in Goods Source: Census Bureau
Advance Wholesale Inventories Source: Census Bureau

Disclaimer: We do not endorsed nor verified the posts provided by Twitter. This widget is provided to you as a convenience only and is not affiliated with all parties in any way.

Leave a Reply

Your email address will not be published. Required fields are marked *