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 | 0.51% | 64.6 Pips |  |
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| Week to-date | 0.36% | 46 Pips | |
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| July | 1.61% | 204.2 Pips |  |
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Upcoming key events (London Time)
Thu 01:30 PM USD CPI Inflation Rate (1-mth)
Thu 01:30 PM USD CPI Inflation Rate (12-mth)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
No major activities.
What can we expect from GBPUSD today?
GBPUSD on Wednesday rose 0.51% to 1.28525. Price is above 9-Day EMA while Stochastic is rising in overbought 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 1.28758 with break above could target R2 at 1.2899 or figure level area. While towards the downside, we are looking at daily low of 1.27839 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.28531 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 0.36% over the past few days.
Key levels to watch out:
| R3 | 1.2945 |
| R2 | 1.2899 |
| R1 | 1.28758 |
| Daily Pivot | 1.28298 |
| S1 | 1.28066 |
| S2 | 1.27606 |
| S3 | 1.27374 |
