GBPUSD on Tuesday dropped -0.03% to 1.26835. Pair in consolidation. Why it matters.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.03%	-3.8 Pips
Week to-date	0.35%	44.5 Pips
June	-0.37%	-46.7 Pips

Upcoming key events (London Time)

Wed 09:30 PM USD Bank Stress Test Results
Thu 01:30 PM USD GDP Annualized

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in April rose to 0.2% compared to previous figure 0.1% in March

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.03% to 1.26835. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.26682 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27025 or trades above daily pivot 1.26853. Break above could target R1 at 1.27007. While to the downside, we are looking at 1.26682 (S1) and daily low of 1.26700 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26700 would indicate selling pressure.

For the week to-date, take note that GBPUSD is mixed as compared to the prior week.

Key levels to watch out: