GBPUSD on Tuesday dropped -0.57% to 1.24891. End April down by -1.06% or -133.6 pips lower. What we know.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	-0.57%	-71.9 Pips
Week to-date	-0.02%	-2.7 Pips
April	-1.06%	-133.6 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in February rose to 1.2% compared to previous figure -0.1% in January

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Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.57% to 1.24891. Price is below 9-Day EMA while Stochastic is falling in overbought zone.

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 1.24632 with break below could see further selling pressure towards S2 at 1.24372. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.25611 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.24862 would indicate selling pressure.

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

GBPUSD ended month of April trading session down by -1.06% or -133.6 pips lower.

Key levels to watch out: