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 | -0.27% | -35.2 Pips |  |
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| Week to-date | -0.14% | -18.4 Pips | |
||
| September | -0.41% | -54.5 Pips |  |
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Upcoming key events (London Time)
No major events for the day.
What happened lately
U.K. BRC Like-For-Like Retail Sales (12-mth) increased to 0.8% in August from 0.3% in July.
What can we expect from GBPUSD today?
GBPUSD on Tuesday dropped -0.27% to 1.31101. Price is below 9-Day EMA while Stochastic is falling.
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 1.30826 with break below could see further selling pressure towards S2 at 1.30551. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.31470 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.30873 would indicate selling pressure.
For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.14%.
Key levels to watch out:
| R3 | 1.3202 |
| R2 | 1.31745 |
| R1 | 1.31423 |
| Daily Pivot | 1.31148 |
| S1 | 1.30826 |
| S2 | 1.30551 |
| S3 | 1.30229 |
