GBPUSD on Wednesday rose 0.25% to 1.24563. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.25%	30.5 Pips
Week to-date	0.05%	6.3 Pips
April	-1.32%	-166.5 Pips

Upcoming key events (London Time)

Fri 07:00 AM GBP Retail Sales Volumes (1-mth)

What happened lately

🇬🇧 U.K. Retail Price Index (12-mth) in March dropped to 4.3% compared to previous figure 4.5% in February Source: Office for National Statistics
🇬🇧 U.K. Labour Market Employment Change in February dropped to -156K compared to previous figure -89K (revised from -21K) Source: Office for National Statistics
🇬🇧 U.K. ILO Unemployment Rate (3-mth) in February rose to 4.2% compared to previous figure 4% (revised from 3.9%) 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 rose 0.25% to 1.24563. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.24214 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.24817 or trades above daily pivot 1.24515. Break above could target R1 at 1.24865. While to the downside, we are looking at 1.24214 (S1) and daily low of 1.24166 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.24817 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is mixed as compared to the prior week.

Key levels to watch out: