GBPUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.5% | 62 Pips |  |
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| Week to-date | 0.27% | 33.7 Pips | |
||
| April | 1.12% | 138.5 Pips | |
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Upcoming key events (London Time)
Thu 01:30 PM USD GDP Annualized
What happened lately
USD Durable Goods Orders excluding Transportation in March rose to 0.3% compared to previous figure -0.3% (revised from 0%). Census Bureau 🇺🇸 New Residential Sales (1-mth) in March exceed forecast and rose to 0.683M compared to previous figure 0.623, revised from 0.64M in February Census Bureau 🇺🇸 Housing Price Index (1-mth) in February exceed forecast and rose to 0.5% compared to previous figure 0.1, revised from 0.2% in January
What can we expect from GBPUSD today?
GBPUSD on Wednesday rose 0.5% to 1.24710. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.24096 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.25152 or trades above daily pivot 1.24624. Break above could target R1 at 1.25238. While to the downside, we are looking at 1.24096 (S1) and daily low of 1.24010 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.25152 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 | 1.2638 |
| R2 | 1.25766 |
| R1 | 1.25238 |
| Daily Pivot | 1.24624 |
| S1 | 1.24096 |
| S2 | 1.23482 |
| S3 | 1.22954 |
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Advance Monthly Manufacturers’ Shipments, Inventories, and Orders. Census Bureau Advance Retail Inventories. Census Bureau Advance U.S. International Trade in Goods. Census Bureau Advance Wholesale Inventories. Census Bureau New Home Sales. Census Bureau
Public service productivity overview, UK: October to December 2022. National Statistics
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