Dear ,
As requested, let’s look at GBPUSD and the recent events that happened in the previous trading session.
GBPUSD Analysis
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | -0.04% | -5.2 Pips |  |
||
| Week to-date | -0.8% | -102.3 Pips |  |
||
| August | -1.31% | -167.8 Pips | |
||
Upcoming key events (London Time)
No major events for the day.
What happened lately
U.K. BRC Like-For-Like Retail Sales (12-mth) in July rose to 0.3% compared to the previous figure of -0.5% in June.
What can we expect from GBPUSD today?
GBPUSD on Wednesday dropped -0.04% to 1.26856. 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 1.26653 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27360 or trades above daily pivot 1.27006. Break above could target R1 at 1.2721. While to the downside, we are looking at 1.26653 (S1) and daily low of 1.26803 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26803 would indicate selling pressure.
For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.8%.
Key levels to watch out:
| R3 | 1.27767 |
| R2 | 1.27563 |
| R1 | 1.2721 |
| Daily Pivot | 1.27006 |
| S1 | 1.26653 |
| S2 | 1.26449 |
| S3 | 1.26096 |
