GBPUSD on Wednesday rose 0.3% to 1.25318. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.3%	38 Pips
Week to-date	0.32%	40 Pips
May	0.3%	37.9 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Average Hourly Earnings (1-mth)
Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in March dropped to 8.488M compared to previous figure 8.813, revised from 8.756M in February Source: Bureau of Labor Statistics
🇺🇸 U.S. Housing Price Index (1-mth) in February rose to 1.2% compared to previous figure -0.1% in January

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What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.3% to 1.25318. 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 1.24818 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.25500 or trades above daily pivot 1.25159. Break above could target R1 at 1.25659. While to the downside, we are looking at 1.24818 (S1) and daily low of 1.24659 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.25500 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: