Dear ,
As requested, let’s look at GBPUSD 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 |
