• Sat. Jun 15th, 2024

GBPUSD on Monday rose 0.08% to 1.27103. Pair in consolidation. What we know.

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Dear ,

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

GBPUSD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday 0.08% 10.3 Pips
Week to-date 0.08% 10.3 Pips
May 1.73% 216.2 Pips

Upcoming key events (London Time)

  Tue 06:00 PM GBP Bank of England Governor Andrew Bailey speech
  Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (1-mth)
  Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)
  Wed 02:15 PM GBP Bank of England Monetary Policy Report Hearings
  Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

No major activities.

 


What can we expect from GBPUSD today?

GBPUSD on Monday rose 0.08% to 1.27103. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.2691 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27255 or trades above daily pivot 1.27082. Break above could target R1 at 1.27276. While to the downside, we are looking at 1.2691 (S1) and daily low of 1.26889 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.27255 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 1.27642
R2 1.27448
R1 1.27276
Daily Pivot 1.27082
S1 1.2691
S2 1.26716
S3 1.26544
On Key

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