GBPUSD on Tuesday rose 1.77% to 1.24960. What we know.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	1.77%	217.4 Pips
Week to-date	2.23%	272.3 Pips
November	2.86%	347.8 Pips

Upcoming key events (London Time)

Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)
Wed 09:30 AM GBP Bank of England Monetary Policy Report Hearings
Wed 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Wed 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (1-mth) in October below forecast and dropped to 0.2% compared to previous figure 0.3% in September Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in October below forecast and dropped to 3.2% compared to previous figure 3.7% in September Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (1-mth) in October below forecast and dropped to 0% compared to previous figure 0.4% in September Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate excluding Food and Energy sectors (12-mth) in October below forecast and dropped to 4% compared to previous figure 4.1% in September Bureau of Labor Statistics
🇬🇧 U.K. Claimant Count Rate in October unchanged at 4% compared to previous report in September. Office for National Statistics
🇬🇧 U.K. Labour Market Employment Change in September exceed forecast and dropped to -207K compared to previous figure -82K in August Office for National Statistics
🇬🇧 U.K. ILO Unemployment Rate (3-mth) in September unchanged at 4.2% compared to previous report in August. Office for National Statistics
🇬🇧 U.K. Average Earnings Including Bonus (3Mo/Yr) in September exceed forecast and dropped to 7.9% compared to previous figure 8.2, revised from 8.1% in August Office for National Statistics
🇬🇧 U.K. Average Earnings Excluding Bonus (3Mo/Yr) in September dropped to 7.7% compared to previous figure 7.8% in August Office for National Statistics
🇬🇧 U.K. Claimant Count Change in October below forecast and dropped to 17.8K compared to previous figure 20.4K in September Office for National Statistics

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 1.77% to 1.24960. 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 1.25797 with break above could target R2 at 1.26634 or figure level area. While towards the downside, we are looking at daily low of 1.22649 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.25060 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 2.23% over the past few days.

Key levels to watch out:

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