• Mon. Nov 11th, 2024

GBPUSD on Monday rose 0.03% to 1.31388. What we know.

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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 0.03% 3.9 Pips
Week to-date 0.08% 10.4 Pips
September -0.21% -27.1 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

 🇬🇧 U.K. BRC Like-For-Like Retail Sales (12-mth) increased to 0.8% in August from 0.3% in July.


What can we expect from GBPUSD today?

GBPUSD on Monday rose 0.03% to 1.31388. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks bullish as the pair ended higher after Monday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.31559 with break above could target R2 at 1.31731 or figure level area. While towards the downside, we are looking at daily low of 1.31196 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.31549 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 1.31912
R2 1.31731
R1 1.31559
Daily Pivot 1.31378
S1 1.31206
S2 1.31025
S3 1.30853