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 | 0.25% | 32.2 Pips |  |
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| Week to-date | -0.52% | -68.5 Pips |  |
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| September | -0.17% | -22.8 Pips | |
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Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
U.S. Factory Orders (1-mth) in July rose to 5%, compared to the previous figure of -3.3% in June. Source: Census Bureau
U.S. Job Openings and Labor Turnover Survey (JOLTS) in July dropped to 7.673M compared to the revised June figure of 7.91M, down from 8.184M. Source: Bureau of Labor Statistics
U.S. Job Openings and Labor Turnover Survey (JOLTS) in July dropped to 7.673M, compared to the previous figure of 7.91M revised from 8.184M in June. Source: Bureau of Labor Statistics
U.K. BRC Like-For-Like Retail Sales (12-mth) increased to 0.8% in August from 0.3% in July.
What can we expect from GBPUSD today?
GBPUSD on Wednesday rose 0.25% to 1.31442. Price is above 9-Day EMA while Stochastic is falling in oversold zone.
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 1.31792 with break above could target R2 at 1.32143 or figure level area. While towards the downside, we are looking at daily low of 1.31007 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.31750 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 | 1.32535 |
| R2 | 1.32143 |
| R1 | 1.31792 |
| Daily Pivot | 1.314 |
| S1 | 1.31049 |
| S2 | 1.30657 |
| S3 | 1.30306 |
