GBPUSD on Tuesday rose 0.83% to 1.24519. What we know.

GBPUSD on Tuesday rose 0.83% to 1.24519. What we know.

GBPUSD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday 0.83% 102.4 Pips
Week to-date 0.67% 82.4 Pips
April -1.35% -170.9 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized

What happened lately

No major activities.

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What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.83% to 1.24519. Price is above 9-Day EMA while Stochastic is rising.

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 1.24964 with break above could target R2 at 1.2541 or figure level area. While towards the downside, we are looking at daily low of 1.23315 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.24585 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:

R3 1.26234
R2 1.2541
R1 1.24964
Daily Pivot 1.2414
S1 1.23694
S2 1.2287
S3 1.22424

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