GBPUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -1.09% | -138 Pips |  |
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| Week to-date | -0.78% | -98.5 Pips | |
||
| April | -0.68% | -86.1 Pips |  |
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Upcoming key events (London Time)
Thu 01:30 PM USD PPI excluding Food and Energy sectors (12-mth) Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
🇬🇧 U.K. BRC Like-For-Like Retail Sales (12-mth) in March rose to 3.2% compared to previous figure 1% in February
Latest from X (Twitter)
Tweets by Office for National Statistics
What can we expect from GBPUSD today?
GBPUSD on Wednesday dropped -1.09% to 1.25375. 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 1.24689 with break below could see further selling pressure towards S2 at 1.24002. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.27078 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.25197 would indicate selling pressure.
For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.78%.
Key levels to watch out:
| R3 | 1.28451 |
| R2 | 1.27764 |
| R1 | 1.2657 |
| Daily Pivot | 1.25883 |
| S1 | 1.24689 |
| S2 | 1.24002 |
| S3 | 1.22808 |
