GBPUSD on Thursday rose 0.58% to 1.23860. What we know.
|Performance after Thursday|
|Week to-date||1.28%||156 Pips|
Upcoming key events (London Time)
Fri 07:00 AM GBP GDP (3-mth) | Q4
What happened lately
📆 🇺🇸 USD Core Personal Consumption Expenditures (3-mth) | Q4 in Q4 exceed forecast and rose to 4.4% compared to previous figure 4.3% in Q3. Source: Bureau of Economic Analysis
📆 ☢️ 🇺🇸 USD GDP Annualized | Q4 in Q4 below forecast and dropped to 2.6% compared to previous figure 2.7% in Q3. Source: Bureau of Economic Analysis
📆 🇺🇸 USD Pending Home Sales (1-mth) | Feb in February exceed forecast and dropped to 0.8% compared to previous figure 8.1% in January.
What can we expect from GBPUSD today?
GBPUSD on Thursday rose 0.58% to 1.23860. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is at 1.24219 (R1) while on the downside, we are looking at daily low of 1.22920 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.23929 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 1.28% over the past few days.
Key levels to watch out:
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