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 | 0.37% | 48.2 Pips |  |
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| Week to-date | 0.66% | 85.6 Pips | |
||
| August | 1.4% | 180.4 Pips |  |
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Upcoming key events (London Time)
Wed 07:00 PM USD FOMC Meeting Minutes
What happened lately
No major activities.
What can we expect from GBPUSD today?
GBPUSD on Tuesday rose 0.37% to 1.30328. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
Updated daily direction for GBPUSD looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.30654 with break above could target R2 at 1.3098 or figure level area. While towards the downside, we are looking at daily low of 1.29738 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.30522 may suggest continuation after recent positive movement.
For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 0.66% over the past few days.
Key levels to watch out:
| R3 | 1.31438 |
| R2 | 1.3098 |
| R1 | 1.30654 |
| Daily Pivot | 1.30196 |
| S1 | 1.2987 |
| S2 | 1.29412 |
| S3 | 1.29086 |
