GBPUSD on Thursday rose 0.69% to 1.25234. What we know.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	0.69%	85.3 Pips
Week to-date	1.47%	181.1 Pips
June	0.71%	87.7 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 In the week ending 27 May, the Initial Unemployment Insurance Claims rose to 232K compared to previous figure 229K Department of Labor
🇺🇸 Nonfarm Business Labor Productivity in Q1 below forecast and improved to -2.1% compared to previous figure -2.7% in Q4 Bureau of Labor Statistics
🇺🇸 U.S. ADP Non-Farm Employment Change in May dropped to 278K compared to previous figure 291K (revised from 296K)

What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.69% to 1.25234. 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 1.25753 with break above could target R2 at 1.26273 or figure level area. While towards the downside, we are looking at daily low of 1.24000 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.25396 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 1.47% over the past few days.

Key levels to watch out:

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