GBPUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.8% | -101.9 Pips |  |
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| Week to-date | -0.86% | -108.9 Pips | |
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| January | -0.86% | -109 Pips |  |
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Wed 07:00 PM USD FOMC Meeting Minutes
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What can we expect from GBPUSD today?
GBPUSD on Tuesday dropped -0.8% to 1.26211. 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 1.25676 with break below could see further selling pressure towards S2 at 1.25142. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.27599 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.26103 would indicate selling pressure.
For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.86%.
Key levels to watch out:
| R3 | 1.28668 |
| R2 | 1.28134 |
| R1 | 1.27172 |
| Daily Pivot | 1.26638 |
| S1 | 1.25676 |
| S2 | 1.25142 |
| S3 | 1.2418 |
