GBPUSD on Wednesday rose 0.59% to 1.26528. What we know.

GBPUSD on Wednesday rose 0.59% to 1.26528. What we know.

GBPUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday 0.59% 74 Pips
Week to-date 0.24% 29.8 Pips
April 0.23% 29.6 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in February rose to 8.756M compared to previous figure 8.748, revised from 8.863M in January Source: Bureau of Labor Statistics
🇺🇸 U.S. Factory Orders (1-mth) in February rose to 1.4% compared to previous figure -3.8, revised from -3.6% in January Source: Census Bureau

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What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.59% to 1.26528. Price is above 9-Day EMA while Stochastic is rising.

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 1.26851 with break above could target R2 at 1.27175 or figure level area. While towards the downside, we are looking at daily low of 1.25620 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.26559 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 1.2779
R2 1.27175
R1 1.26851
Daily Pivot 1.26236
S1 1.25912
S2 1.25297
S3 1.24973

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