GBPUSD by TradingView
| Tuesday | |||
| Open | High | Low | Close |
| 1.21840 | 1.22050 | 1.21350 | 1.21580 |
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.19% | -23 Pips |  |
||
| Week to-date | 1.18% | 142 Pips |  |
||
| March | 1.19% | 143.5 Pips | |
||
Upcoming key events (London Time)
Wed 12:30 PM USD Retail Sales (1-mth) Wed 12:30 PM USD Retail Control Group
What happened lately
📆 ☢️ 🇺🇸 USD CPI Inflation Rate excluding Food & Energy sectors (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.4% in January. Source
📆 ☢️ 🇬🇧 GBP ILO Unemployment Rate (3-mth) in January unchanged at 3.7% compared to previous report in December. . Source
What can we expect from GBPUSD today?
GBPUSD on Tuesday dropped -0.19% to 1.21580. Price is above 9-Day EMA while Stochastic is rising but in overbought zone.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.2127 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.22050 or trades above daily pivot 1.2166. While to the downside, the daily low of 1.21350 and 1.2127 (S1) as immediate support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.21350 would indicate selling pressure.
For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 1.18% over the past few days.
Key levels to watch out:
| R3 | 1.2267 |
| R2 | 1.2236 |
| R1 | 1.2197 |
| Daily Pivot | 1.2166 |
| S1 | 1.2127 |
| S2 | 1.2096 |
| S3 | 1.2057 |
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