GBPUSD on Tuesday dropped -0.26% to 1.25928. What we know.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.26%	-32.8 Pips
Week to-date	-0.25%	-31.9 Pips
February	-0.74%	-93.5 Pips

Upcoming key events (London Time)

Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)
Wed 03:00 PM GBP Bank of England Governor Andrew Bailey speech
Thu 07:00 AM GBP GDP (3-mth)
Thu 07:00 AM GBP GDP (12-mth)
Thu 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate (1-mth) in January rose to 0.3% compared to previous figure 0.2, revised from 0.3% in December Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in January dropped to 3.1% compared to previous figure 3.4% in December Source: Bureau of Labor Statistics
🇬🇧 U.K. Labour Market Employment Change in December dropped to 72K compared to previous figure 73K in November Source: Office for National Statistics
🇬🇧 U.K. Claimant Count Change in January rose to 14.1K compared to previous figure 5.5K (revised from 11.7K) Source: Office for National Statistics
🇺🇸 U.S. Monthly Budget Statement in January improved to -22$ compared to previous figure -129$ in December Source: Bureau of the Fiscal Service

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.26% to 1.25928. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 1.25478 with break below could see further selling pressure towards S2 at 1.25027. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.26875 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.25726 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: