Dear ,
As requested, let’s look at GBPUSD and the recent events that happened in the previous trading session.
GBPUSD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.01% | -1 Pips |  |
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| Week to-date | 0.01% | 1.4 Pips |  |
||
| August | -0.48% | -61.5 Pips | |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
U.K. BRC Like-For-Like Retail Sales (12-mth) in July rose to 0.3% compared to the previous figure of -0.5% in June.
What can we expect from GBPUSD today?
GBPUSD on Monday dropped -0.01% to 1.27903. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.27278 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.28167 or trades above daily pivot 1.27723. Break above could target R1 at 1.28347. While to the downside, we are looking at 1.27278 (S1) and daily low of 1.27098 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.27098 would indicate selling pressure.
For the week to-date, take note that GBPUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.29416 |
| R2 | 1.28792 |
| R1 | 1.28347 |
| Daily Pivot | 1.27723 |
| S1 | 1.27278 |
| S2 | 1.26654 |
| S3 | 1.26209 |
