GBPUSD on Monday rose 0.73% to 1.24230. What we know.
|Performance after Monday|
|Week to-date||0.73%||90 Pips|
Upcoming key events (London Time)
No major events for the day.
What happened lately
📆 🇺🇸 USD S&P Global Manufacturing PMI | Mar in March below forecast and dropped to 49.2 points compared to previous figure 49.3 points in February. Source:
📆 🇬🇧 GBP S&P Global/CIPS Manufacturing PMI | Mar in March below forecast and dropped to 47.9 points compared to previous figure 48 points in February. Source:
What can we expect from GBPUSD today?
GBPUSD on Monday rose 0.73% to 1.24230. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks bullish as the pair ended higher after Monday trading session.
Looking ahead for the day, immediate upside resistance level is at 1.24737 (R1) while on the downside, we are looking at daily low of 1.22730 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.24240 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 0.73% over the past few days.
Key levels to watch out:
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Payroll employment rises by 311,000 in February; unemployment rate edges up to 3.6% Source: Bureau of Labor Statistics Publications
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