GBPUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 1.01% | 127.4 Pips |  |
||
| Week to-date | 1.7% | 213.4 Pips | |
||
| June | 2.82% | 350.9 Pips |  |
||
Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 In the week ending 10 June, Initial Unemployment Insurance Claims in U.S. was unchanged at 262K compared to previous figure 262K (revised from 261K) Department of Labor 🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in June below forecast and dropped to -13.7 points compared to previous figure -10.4 points in May 🇺🇸 U.S. Monthly Retail Trade (1-mth) in May exceed forecast and dropped to 0.3% compared to previous figure 0.4, revised from 0.4% in April Census Bureau 🇺🇸 U.S. Interest Rate Projections rose to 5.6% compared to previous rate 5.1% 🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.25% compared to previous rate 5.25% Federal Reserve
🇬🇧 U.K. NIESR GDP 3-mth Estimate in May below forecast and dropped to 0% compared to previous figure 0.1% in April NIESR 🇬🇧 U.K. Industrial Production (1-mth) in April exceed forecast and dropped to -0.3% compared to previous figure 0.7% in March 🇬🇧 U.K. GDP (1-mth) in April rose to 0.2% compared to previous figure -0.3% in March Office for National Statistics
What can we expect from GBPUSD today?
GBPUSD on Thursday rose 1.01% to 1.27888. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
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 1.28429 with break above could target R2 at 1.28969 or figure level area. While towards the downside, we are looking at daily low of 1.26292 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27901 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 1.7% over the past few days.
Key levels to watch out:
| R3 | 1.30038 |
| R2 | 1.28969 |
| R1 | 1.28429 |
| Daily Pivot | 1.2736 |
| S1 | 1.2682 |
| S2 | 1.25751 |
| S3 | 1.25211 |
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UK Trade: April 2023 time series. National Statistics GDP monthly estimate, UK: April 2023 time series. National Statistics Index of Production, UK: April 2023. National Statistics UK Trade: April 2023. National Statistics Index of Production, UK: April 2023 time series. National Statistics GDP monthly estimate, UK: April 2023. National Statistics CPI for all items rises 0.1% in May; shelter and used cars and trucks up. Bureau of Labor Statistics
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