GBPUSD on Wednesday rose 0.61% to 1.28017. What we know.

GBPUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.61%	77.6 Pips
Week to-date	0.86%	108.7 Pips
December	1.42%	179.3 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in October below forecast and dropped to 0.3% compared to previous figure 0.7, revised from 0.6% in September

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What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.61% to 1.28017. 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 1.28368 with break above could target R2 at 1.2872 or figure level area. While towards the downside, we are looking at daily low of 1.26981 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.28026 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 0.86% over the past few days.

Key levels to watch out: