GBPUSD on Tuesday rose 0.29% to 1.27468. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.29%	36.4 Pips
Week to-date	0.14%	17.2 Pips
June	2.41%	299.9 Pips

Upcoming key events (London Time)

Wed 02:30 PM USD Federal Reserve Chair Jerome Powell speech
Wed 02:30 PM GBP Bank of England Governor Andrew Bailey speech
Wed 09:30 PM USD Bank Stress Test Results
Thu 01:30 PM USD GDP Annualized (12-mth)

What happened lately

🇺🇸 U.S. New Residential Sales (1-mth) in May exceed forecast and rose to 0.763M compared to previous figure 0.68, revised from 0.683M in April Census Bureau
🇺🇸 U.S. Housing Price Index (1-mth) in April exceed forecast and rose to 0.7% compared to previous figure 0.5, revised from 0.6% in March
🇺🇸 U.S. Durable Goods Orders excluding Transportation in May rose to 0.6% compared to previous figure -0.6% (revised from -0.2%) Census Bureau

What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.29% to 1.27468. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.27135 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27592 or trades above daily pivot 1.27363. Break above could target R1 at 1.27697. While to the downside, we are looking at 1.27135 (S1) and daily low of 1.27030 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.27592 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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