GBPUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.8% | 99.4 Pips |  |
||
| Week to-date | 0.06% | 7.5 Pips |  |
||
| May | 0.06% | 7.1 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 Fed Interest Rate Decision (Federal Funds Rate) rose to 5.25% compared to previous rate 5% Federal Reserve 🇺🇸 Factory Orders (1-mth) in March exceed forecast and rose to 0.9% compared to previous figure -1.1, revised from -0.7% in February Census Bureau
What can we expect from GBPUSD today?
GBPUSD on Wednesday rose 0.8% to 1.25687. 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 1.26166 with break above could target R2 at 1.26645 or figure level area. While towards the downside, we are looking at daily low of 1.24676 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.25900 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 | 1.2739 |
| R2 | 1.26645 |
| R1 | 1.26166 |
| Daily Pivot | 1.25421 |
| S1 | 1.24942 |
| S2 | 1.24197 |
| S3 | 1.23718 |
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Federal Reserve issues FOMC statement. Federal Reserve Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
GDP revisions in Blue Book, 2022. National Statistics Construction Spending. Census Bureau
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