GBPUSD on Tuesday rose 0.2% to 1.27138. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.2%	25 Pips
Week to-date	0.17%	21 Pips
July	0.17%	21.1 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes
Thu 01:15 PM USD ADP Non-Farm Employment Change
Thu 03:00 PM USD ISM Services PMI

What happened lately

No major activities.

What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.2% to 1.27138. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.26849 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27392 or trades above daily pivot 1.2712. Break above could target R1 at 1.2741. While to the downside, we are looking at 1.26849 (S1) and daily low of 1.26831 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.27392 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:

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