GBPUSD on Thursday rose 0.62% to 1.28099. What we know.

GBPUSD on Thursday rose 0.62% to 1.28099. What we know.

GBPUSD Analysis

Performance after Thursday
Period Pct Chg Momentum
Thursday 0.62% 79 Pips
Week to-date 1.24% 156.9 Pips
March 1.48% 186.8 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 In the week ending 02 March, Initial Unemployment Insurance Claims in U.S. was unchanged at 217K compared to previous figure 217K (revised from 215K) Source: Department of Labor
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q4 unchanged at 3.2% compared to previous report in Q3. Source: Bureau of Labor Statistics
🇺🇸 U.S. Challenger Job Cuts in February rose to 84.638K compared to previous figure 82.307K in January
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in January dropped to 8.863M compared to previous figure 9.026M in December Source: Bureau of Labor Statistics

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What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.62% to 1.28099. 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 R1 at 1.28397 with break above could target R2 at 1.28696 or figure level area. While towards the downside, we are looking at daily low of 1.27226 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.28110 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 1.24% over the past few days.

Key levels to watch out:

R3 1.29281
R2 1.28696
R1 1.28397
Daily Pivot 1.27812
S1 1.27513
S2 1.26928
S3 1.26629

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