GBPUSD on Tuesday rose 0.68% to 1.25010. What is going on.
|Performance after Tuesday|
|Week to-date||1.28%||158.4 Pips|
Upcoming key events (London Time)
Fri 12:00 AM GBP Good Friday
What happened lately
📆 🇺🇸 USD Factory Orders (1-mth) | Feb in February exceed forecast and improved to -0.7% compared to previous figure -2.1, revised from -1.6% in January.
📆 🇺🇸 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.
📆 🇬🇧 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.
What can we expect from GBPUSD today?
GBPUSD on Tuesday rose 0.68% to 1.25010. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.25529 with break above could target R2 at 1.26047 or figure level area. While towards the downside, we are looking at daily low of 1.23940 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.25253 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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February job openings and layoffs and discharges decrease; quits edge up. Bureau of Labor Statistics Publications
Construction Spending. Census Bureau
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