GBPUSD on Tuesday rose 0.18% to 1.26756. What happened.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.18%	22.8 Pips
Week to-date	0.31%	39.6 Pips
April	0.42%	52.8 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD CPI Inflation Rate (1-mth)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 07:00 PM USD FOMC Meeting Minutes
Thu 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇬🇧 U.K. BRC Like-For-Like Retail Sales (12-mth) in March rose to 3.2% compared to previous figure 1% in February

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.18% to 1.26756. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.27072 with break above could target R2 at 1.27387 or figure level area. While towards the downside, we are looking at daily low of 1.26483 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27093 may suggest continuation after recent positive movement.

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

Key levels to watch out: