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 | 0.08% | 10 Pips |  |
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| Week to-date | 0.14% | 17.2 Pips | |
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| June | -0.03% | -3.8 Pips |  |
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Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 01:30 PM USD CPI Inflation Rate (1-mth)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Wed 07:00 PM USD Interest Rate Projections
Thu 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
What happened lately
🇬🇧 U.K. Labour Force Survey Employment Change in April improved to -140K compared to previous figure -177K in March Source: Office for National Statistics
What can we expect from GBPUSD today?
GBPUSD on Tuesday rose 0.08% to 1.27370. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.27112 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27517 or trades above daily pivot 1.27314. Break above could target R1 at 1.27573. While to the downside, we are looking at 1.27112 (S1) and daily low of 1.27056 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.27517 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 | 1.28034 |
| R2 | 1.27775 |
| R1 | 1.27573 |
| Daily Pivot | 1.27314 |
| S1 | 1.27112 |
| S2 | 1.26853 |
| S3 | 1.26651 |
