• Sat. Jun 15th, 2024

GBPUSD on Thursday rose 0.21% to 1.27288. 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 Thursday
Period Pct Chg Momentum
Thursday 0.21% 26.2 Pips
Week to-date -0.06% -7.2 Pips
May 1.88% 234.9 Pips

Upcoming key events (London Time)

  Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
  Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

 🇺🇸 U.S. GDP Annualized in Q1 flash estimate dropped to 1.3% compared to previous figure 1.6% in Q4 Source: Bureau of Economic Analysis
 🇺🇸 In the week ending 25 May, U.S. Initial Unemployment Insurance Claims rose to 219K compared to previous figure 216K (revised from 215K) Source: Department of Labor


What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.21% to 1.27288. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.26905 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27472 or trades above daily pivot 1.27188. Break above could target R1 at 1.27572. While to the downside, we are looking at 1.26905 (S1) and daily low of 1.26805 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.27472 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 1.28239
R2 1.27855
R1 1.27572
Daily Pivot 1.27188
S1 1.26905
S2 1.26521
S3 1.26238
On Key

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