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 | 0.52% | 68.1 Pips |  |
||
| Week to-date | 0.35% | 46.1 Pips | |
||
| August | 3.16% | 405.9 Pips |  |
||
Upcoming key events (London Time)
Thu 01:30 PM USD GDP annual rate
What happened lately
U.S. House Price Index (1-mth) in June dropped to -0.1% from 0% in May. Source: FHFA
U.S. Durable Goods Orders excluding Transportation in July dropped to -0.2% from the revised June figure of 0.4%, which was initially reported as 0.5%. Source: Census Bureau
U.S. Durable Goods Orders excluding Defense in July increased to 10.4%, compared to the revised figure of -7.2% (previously -7%) in June. Source: Census Bureau
U.S. Nondefense Capital Goods Orders excluding Aircraft in July dropped to -0.1% from a revised 0.9% in June. Source: Census Bureau
U.S. Durable Goods – New Orders in July rose to 9.9%, compared to the previous figure of -6.7%, revised from -6.6% in June. Source: Census Bureau
What can we expect from GBPUSD today?
GBPUSD on Tuesday rose 0.52% to 1.32588. 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 1.32904 with break above could target R2 at 1.3322 or figure level area. While towards the downside, we are looking at daily low of 1.31796 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.32666 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 0.35% over the past few days.
Key levels to watch out:
| R3 | 1.33774 |
| R2 | 1.3322 |
| R1 | 1.32904 |
| Daily Pivot | 1.3235 |
| S1 | 1.32034 |
| S2 | 1.3148 |
| S3 | 1.31164 |
