GBPUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.46% | 57.5 Pips |  |
||
| Week to-date | 0.62% | 76.7 Pips |  |
||
| April | 1.29% | 159.4 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD Retail Trade Turnover (1-mth) | Mar Fri 03:00 PM USD Michigan Index of Consumer Sentiment | Apr flash
What happened lately
📆 🇺🇸 USD CPI Inflation Rate (12-mth) | Mar in March below forecast and dropped to 5% compared to previous figure 6% in February. Bureau of Labor Statistics
What can we expect from GBPUSD today?
GBPUSD on Wednesday rose 0.46% to 1.24839. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks bullish as the pair ended higher after Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.25203 with break above could target R2 at 1.25566 or figure level area. While towards the downside, we are looking at daily low of 1.23970 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.24950 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:
| R3 | 1.26183 |
| R2 | 1.25566 |
| R1 | 1.25203 |
| Daily Pivot | 1.24586 |
| S1 | 1.24223 |
| S2 | 1.23606 |
| S3 | 1.23243 |
You might be interested in:
Minutes of the Federal Open Market Committee, March 21-22, 2023. Federal Reserve CPI for all items rises 0.1% in March as shelter increases. Bureau of Labor Statistics Publications Monthly Wholesale Trade: Sales and Inventories. Census Bureau
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