• Sat. Jun 15th, 2024

GBPUSD on Tuesday dropped -0.07% to 1.27589. 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 Tuesday
Period Pct Chg Momentum
Tuesday -0.07% -8.9 Pips
Week to-date 0.18% 22.9 Pips
May 2.12% 264.8 Pips

Upcoming key events (London Time)

  Thu 01:30 PM USD GDP Annualized

What happened lately

 🇺🇸 U.S. Housing Price Index (1-mth) in March dropped to 0.1% compared to previous figure 1.2% in February


What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.07% to 1.27589. 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 1.27415 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.28007 or trades above daily pivot 1.27711. Break above could target R1 at 1.27885. While to the downside, we are looking at 1.27415 (S1) and daily low of 1.27537 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.27537 would indicate selling pressure.

For the week to-date, take note that GBPUSD is mixed as compared to the prior week.

Key levels to watch out:

R3 1.28355
R2 1.28181
R1 1.27885
Daily Pivot 1.27711
S1 1.27415
S2 1.27241
S3 1.26945
On Key

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