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 | -0.12% | -15.5 Pips |  |
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| Week to-date | -0.23% | -29.8 Pips |  |
||
| July | 1.5% | 189.7 Pips |  |
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Upcoming key events (London Time)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Thu 12:00 PM GBP Bank of England Interest Rate Decision (Bank Rate)
What happened lately
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in June dropped to 8.184M compared to the previous figure of 8.23M, revised from 8.14M in May. Source: Bureau of Labor Statistics
🇺🇸 U.S. House Price Index (1-mth) in May dropped to 0% from a revised figure of 0.3% in April. Source: FHFA
What can we expect from GBPUSD today?
GBPUSD on Tuesday dropped -0.12% to 1.28386. Price is below 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks bearish as the pair posted lower in Tuesday trading session.
Looking ahead for the day, immediate support level is at S1 1.28172 with break below could see further selling pressure towards S2 at 1.27958. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.28648 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.28196 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 | 1.29076 |
| R2 | 1.28862 |
| R1 | 1.28624 |
| Daily Pivot | 1.2841 |
| S1 | 1.28172 |
| S2 | 1.27958 |
| S3 | 1.2772 |
