GBPUSD on Tuesday rose 0.17% to 1.25737. Pair in consolidation. What we know.

GBPUSD on Tuesday rose 0.17% to 1.25737. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday 0.17% 21.8 Pips
Week to-date -0.39% -49.3 Pips
April -0.39% -49.1 Pips

Upcoming key events (London Time)

Wed 05:10 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in February rose to 8.756M compared to previous figure 8.748, revised from 8.863M in January Source: Bureau of Labor Statistics
🇺🇸 U.S. Factory Orders (1-mth) in February rose to 1.4% compared to previous figure -3.8, revised from -3.6% in January Source: Census Bureau

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What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.17% to 1.25737. 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 1.25482 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.25811 or trades above daily pivot 1.25646. Break above could target R1 at 1.25902. While to the downside, we are looking at 1.25482 (S1) and daily low of 1.25391 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.25811 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.39%.

Key levels to watch out:

R3 1.26322
R2 1.26066
R1 1.25902
Daily Pivot 1.25646
S1 1.25482
S2 1.25226
S3 1.25062

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