GBPUSD on Tuesday dropped -0.06% to 1.26286. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.06%	-7.8 Pips
Week to-date	0.22%	27.6 Pips
March	0.04%	5.6 Pips

Upcoming key events (London Time)

Thu 07:00 AM GBP GDP (3-mth)
Thu 07:00 AM GBP GDP (12-mth)
Thu 12:30 PM USD GDP Annualized

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in January dropped to -0.1% compared to previous figure 0.1% in December
🇺🇸 U.S. Durable Goods Orders in February rose to -6.1% compared to previous figure -6.9% (revised from -6.1%) Source: Census Bureau
🇺🇸 U.S. New-Home Sales Change (1-mth) in February dropped to -0.3% compared to previous figure 1.7, revised from 1.5% in January

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.06% to 1.26286. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.26097 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26680 or trades above daily pivot 1.26388. Break above could target R1 at 1.26578. While to the downside, we are looking at 1.26097 (S1) and daily low of 1.26199 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26199 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: