GBPUSD on Thursday rose 0.67% to 1.1919. What you need to know. What goes around.

GBPUSD on Thursday rose 0.67% to 1.1919. What you need to know. What goes around.

Open High Low Close
1.18489 1.19388 1.18314 1.19193

Performance after Thursday
Period Pct Chg Momentum
Thursday 0.67% 79 Pips
Week to-date -1.03% -124.4 Pips
March -0.19% -22.4 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment
Fri 03:00 PM USD Michigan Index of Consumer Sentiment

What happened lately

๐Ÿ‡บ๐Ÿ‡ธ ๐Ÿ“† USD In the week ending 04 March, the Initial Unemployment Claims rose to 211K compared to previous figure 190K. Source
๐Ÿ“† ๐Ÿ‡บ๐Ÿ‡ธ USD Goods and Services Trade Balance in January below forecast and dropped to -68.3$ compared to previous figure -67.2, revised from -67.4$ in December. Source

What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.67% to 1.1919. Price is below 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 at 1.19616 (R1) while on the downside, we are looking at daily low of 1.1831 as an important support. Break below this level could weaken the current bullish momentum. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.1939 would suggest bullish bias after recent positive movement.

For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -1.03%.

Key levels to watch out:

R3 1.20690
R2 1.20039
R1 1.19616
Daily Pivot 1.18965
S1 1.18542
S2 1.17891
S3 1.17468

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