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 | 0.02% | 2.5 Pips |  |
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| Week to-date | 0.03% | 4.5 Pips | |
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| July | 2.52% | 319.3 Pips | |
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Upcoming key events (London Time)
Tue 01:30 PM USD Monthly Retail Trade (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)
What happened lately
🇺🇸 U.S. New York Empire State Manufacturing Index in July dropped to -6.6 points compared to previous figure -6 points in June Source: New York Fed
What can we expect from GBPUSD today?
GBPUSD on Monday rose 0.02% to 1.29678. 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 1.29539 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.29950 or trades above daily pivot 1.29744. Break above could target R1 at 1.29884. While to the downside, we are looking at 1.29539 (S1) and daily low of 1.29605 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.29950 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 | 1.30229 |
| R2 | 1.30089 |
| R1 | 1.29884 |
| Daily Pivot | 1.29744 |
| S1 | 1.29539 |
| S2 | 1.29399 |
| S3 | 1.29194 |
