GBPUSD on Wednesday dropped -0.69% to 1.26362. What we know.

GBPUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	-0.69%	-88.4 Pips
Week to-date	-0.29%	-36.3 Pips
December	0.12%	14.6 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized
Fri 07:00 AM GBP GDP (3-mth)
Fri 07:00 AM GBP GDP (12-mth)
Fri 07:00 AM GBP Retail Sales Volumes (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇬🇧 U.K. Retail Price Index (12-mth) in November below forecast and dropped to 5.3% compared to previous figure 6.1% in October Source: Office for National Statistics
🇬🇧 U.K. CPI Inflation Rate (CPIH) (12-mth) in November below forecast and dropped to 3.9% compared to previous figure 4.6% in October Source: Office for National Statistics
🇺🇸 U.S. Housing Starts (1-mth) in November exceed forecast and rose to 1.56M compared to previous figure 1.359, revised from 1.372M in October Source: Census Bureau
🇺🇸 U.S. Building Permits (1-mth) in November below forecast and dropped to 1.46M compared to previous figure 1.498, revised from 1.487M in October Source: Census Bureau

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Wednesday dropped -0.69% to 1.26362. 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 1.25962 with break below could see further selling pressure towards S2 at 1.25562. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.27326 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.26244 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: