GBPUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 1.01% | 130.9 Pips |  |
||
| Week to-date | 2.3% | 294.7 Pips | |
||
| July | 3.45% | 438.5 Pips |  |
||
Upcoming key events (London Time)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇺🇸 U.S. Producer Price Index ex Food & Energy (1-mth) in June unchanged at 0.1% compared to previous report in May. 
🇬🇧 U.K. Industrial Production (1-mth) in May dropped to -0.6% compared to previous figure -0.2% (revised from -0.3%) 🇬🇧 U.K. GDP (1-mth) in May below forecast and dropped to -0.1% compared to previous figure 0.2% in April Office for National Statistics 🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in June below forecast and dropped to 0.2% compared to previous figure 0.4% in May Bureau of Labor Statistics
What can we expect from GBPUSD today?
GBPUSD on Thursday rose 1.01% to 1.31307. 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 1.31867 with break above could target R2 at 1.32426 or figure level area. While towards the downside, we are looking at daily low of 1.29828 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.31407 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 2.3% over the past few days.
Key levels to watch out:
| R3 | 1.33446 |
| R2 | 1.32426 |
| R1 | 1.31867 |
| Daily Pivot | 1.30847 |
| S1 | 1.30288 |
| S2 | 1.29268 |
| S3 | 1.28709 |
You might be interested in:
Index of Production, UK: May 2023. National Statistics UK Trade: May 2023 time series. National Statistics GDP monthly estimate, UK: May 2023 time series. National Statistics Index of Production, UK: May 2023 time series. National Statistics GDP monthly estimate, UK: May 2023. National Statistics
CPI for all items rises 0.2% in June; shelter up. Bureau of Labor Statistics UK labour market: July 2023. National Statistics
