|Performance after Wednesday|
|Week to-date||0.67%||81.5 Pips|
Upcoming key events (London Time)
Thu 01:30 PM USD GDP Annualized | Q4
Fri 07:00 AM GBP GDP (3-mth) | Q4
What happened lately
📆 🇺🇸 USD Pending Home Sales (1-mth) | Feb in February exceed forecast and dropped to 0.8% compared to previous figure 8.1% in January. Source
What can we expect from GBPUSD today?
GBPUSD on Wednesday dropped -0.19% to 1.23115. 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 1.22878 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.23615 or trades above daily pivot 1.23247. While to the downside, the daily low of 1.23010 and 1.22878 (S1) as immediate support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.23010 would indicate selling pressure.
For the week to-date, take note that GBPUSD is mixed as the current price action remain uncertain due to trader indecisiveness.
Key levels to watch out:
You might be interested in:
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The employment-population ratio and changes in the UK labour market: 2008 to 2023 Source: National Statistics
Advance Retail Inventories Source: Census Bureau
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Advance Wholesale Inventories Source: Census Bureau
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