GBPUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.04% | -4.9 Pips |  |
||
| Week to-date | 0.09% | 11.6 Pips |  |
||
| April | 0.74% | 91.6 Pips | |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇬🇧 CPI Inflation Rate (12-mth) in March below forecast and dropped to 10.1% compared to previous figure 10.4% in February Office for National Statistics 🇬🇧 Retail Price Index (12-mth) in March exceed forecast and dropped to 13.5% compared to previous figure 13.8% in February 
🇺🇸 Building Permits (1-mth) in March below forecast and dropped to 1.413M compared to previous figure 1.55, revised from 1.524M in February Census Bureau 🇬🇧 Claimant Count Change in March exceed forecast and rose to 28.2K compared to previous figure -18.8, revised from -11.2K in February Office for National Statistics
What can we expect from GBPUSD today?
GBPUSD on Wednesday dropped -0.04% to 1.24246. 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 1.23857 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.24741 or trades above daily pivot 1.24299. Break above could target R1 at 1.24688. While to the downside, we are looking at 1.23857 (S1) and daily low of 1.23910 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.23910 would indicate selling pressure.
For the week to-date, take note that GBPUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.25519 |
| R2 | 1.2513 |
| R1 | 1.24688 |
| Daily Pivot | 1.24299 |
| S1 | 1.23857 |
| S2 | 1.23468 |
| S3 | 1.23026 |
You might be interested in:
Consumer price inflation, UK: March 2023. National Statistics Producer Price Inflation, UK: March 2023 including services, January to March 2023. National Statistics Producer Price Inflation, UK: March 2023 including services, January to March 2023 time series. National Statistics Consumer price inflation, UK: March 2023 time series. National Statistics
Minutes of the Board’s discount rate meetings from February 21 through March 22, 2023. Federal Reserve New Residential Construction. Census Bureau Business Formation Statistics. Census Bureau UK labour market: April 2023. National Statistics The energy intensity of the Consumer Prices Index: 2022. National Statistics
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