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 | 0.11% | 13.6 Pips |  |
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| Week to-date | 0.29% | 36.5 Pips |  |
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| June | -0.09% | -11 Pips |  |
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Upcoming key events (London Time)
Thu 12:00 PM GBP Bank of England Interest Rate Decision (Bank Rate)
Thu 12:00 PM GBP Bank of England MPC Minutes
Fri 07:00 AM GBP Retail Sales Volumes (1-mth)
What happened lately
🇬🇧 U.K. Retail Price Index (1-mth) in May dropped to 0.4% compared to previous figure 0.5% in April Source: Office for National Statistics
🇬🇧 U.K. Core CPI Inflation Rate (12-mth) in May dropped to 3.5% compared to previous figure 3.9% in April Source: Office for National Statistics
🇺🇸 U.S. Industrial Production (1-mth) in May rose to 0.9% compared to previous figure 0% in April
🇺🇸 U.S. Monthly Retail Trade (1-mth) in May rose to 0.1% compared to previous figure -0.2, revised from 0% in April Source: Census Bureau
What can we expect from GBPUSD today?
GBPUSD on Wednesday rose 0.11% to 1.27196. Price is below 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks bullish as the pair ended higher after Wednesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.27399 with break above could target R2 at 1.27601 or figure level area. While towards the downside, we are looking at daily low of 1.26996 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27400 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 | 1.27803 |
| R2 | 1.27601 |
| R1 | 1.27399 |
| Daily Pivot | 1.27197 |
| S1 | 1.26995 |
| S2 | 1.26793 |
| S3 | 1.26591 |
