Dear ,
As requested, let’s look at GBPUSD and the recent events that happened in the previous trading session.
GBPUSD Analysis
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | 0.47% | 60.1 Pips |  |
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| Week to-date | -0.32% | -40.3 Pips |  |
||
| August | -0.82% | -105.9 Pips | |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
In the week ending 03 August, U.S. Initial Unemployment Insurance Claims dropped to 233K compared to previous figure 250K (revised from 249K) Source: Department of Labor
What can we expect from GBPUSD today?
GBPUSD on Thursday rose 0.47% to 1.27476. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.27784 with break above could target R2 at 1.28091 or figure level area. While towards the downside, we are looking at daily low of 1.26645 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27522 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 | 1.28661 |
| R2 | 1.28091 |
| R1 | 1.27784 |
| Daily Pivot | 1.27214 |
| S1 | 1.26907 |
| S2 | 1.26337 |
| S3 | 1.2603 |
