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 | 0.43% | 54.5 Pips |  |
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| Week to-date | 0.76% | 95.9 Pips | |
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| July | 0.76% | 95.9 Pips |  |
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Upcoming key events (London Time)
Thu 01:00 AM GBP Parliamentary Election
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 U.S. Factory Orders (1-mth) in May dropped to -0.5% compared to previous figure 0.4, revised from 0.7% in April Source: Census Bureau
🇺🇸 In the week ending 29 June, U.S. Initial Unemployment Insurance Claims rose to 238K compared to previous figure 233K Source: Department of Labor
🇺🇸 U.S. Challenger Job Cuts in June dropped to 48.786K compared to previous figure 63.816K in May
What can we expect from GBPUSD today?
GBPUSD on Wednesday rose 0.43% to 1.27445. Price is above 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 1.27885 with break above could target R2 at 1.28326 or figure level area. While towards the downside, we are looking at daily low of 1.26778 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27772 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 0.76% over the past few days.
Key levels to watch out:
| R3 | 1.28879 |
| R2 | 1.28326 |
| R1 | 1.27885 |
| Daily Pivot | 1.27332 |
| S1 | 1.26891 |
| S2 | 1.26338 |
| S3 | 1.25897 |
