• Sat. Jun 15th, 2024

GBPUSD on Wednesday rose 0.17% to 1.27919. Pair in consolidation. What we know.

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Dear ,

As requested, let’s look at EURUSD and the recent events that happened in the previous trading session.

GBPUSD Analysis

Performance after Wednesday
Period Pct Chg Momentum
Wednesday 0.17% 22.1 Pips
Week to-date 0.4% 50.9 Pips
June 0.39% 50.2 Pips

Upcoming key events (London Time)

  Fri 01:30 PM USD Nonfarm Payroll Employment
  Fri 01:30 PM USD Average Hourly Earnings (12-mth)

What happened lately

 🇺🇸 U.S. Factory Orders (1-mth) in April unchanged at 0.7% compared to previous report in March. Source: Census Bureau
 🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in April dropped to 8.059M compared to previous figure 8.355, revised from 8.488M in March Source: Bureau of Labor Statistics
 🇬🇧 U.K. BRC Like-For-Like Retail Sales (12-mth) in May rose to 0.4% compared to previous figure -4.4% in April

What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.17% to 1.27919. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.27662 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27953 or trades above daily pivot 1.27807. Break above could target R1 at 1.28065. While to the downside, we are looking at 1.27662 (S1) and daily low of 1.27550 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.27953 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 1.28468
R2 1.2821
R1 1.28065
Daily Pivot 1.27807
S1 1.27662
S2 1.27404
S3 1.27259
On Key

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