GBPUSD on Wednesday dropped -0.2% to 1.25661. What we know.

GBPUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.2%	-25.5 Pips
Week to-date	-0.46%	-58.6 Pips
February	-0.95%	-120.1 Pips

Upcoming key events (London Time)

Thu 07:00 AM GBP GDP (3-mth)
Thu 07:00 AM GBP GDP (12-mth)
Thu 01:30 PM USD Monthly Retail Trade (1-mth)
Fri 07:00 AM GBP Retail Sales Volumes (1-mth)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

🇬🇧 U.K. Core CPI Inflation Rate (12-mth) in January unchanged at 5.1% compared to previous report in December. Source: Office for National Statistics
🇬🇧 U.K. Retail Price Index (12-mth) in January dropped to 4.9% compared to previous figure 5.2% in December Source: Office for National Statistics
🇺🇸 U.S. CPI Inflation Rate (1-mth) in January rose to 0.3% compared to previous figure 0.2, revised from 0.3% in December Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (12-mth) in January dropped to 3.1% compared to previous figure 3.4% in December Source: Bureau of Labor Statistics
🇬🇧 U.K. Labour Market Employment Change in December dropped to 72K compared to previous figure 73K in November Source: Office for National Statistics
🇬🇧 U.K. Claimant Count Change in January rose to 14.1K compared to previous figure 5.5K (revised from 11.7K) Source: Office for National Statistics

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Wednesday dropped -0.2% to 1.25661. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks bearish as the pair posted lower in Wednesday trading session.

Looking ahead for the day, immediate support level is at S1 1.25304 with break below could see further selling pressure towards S2 at 1.24947. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.26110 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.25350 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: