GBPUSD on Tuesday rose 0.2% to 1.24285. What we know.
|Performance after Tuesday|
|Week to-date||-0.02%||-3.1 Pips|
Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (12-mth) | Mar
Wed 01:30 PM USD CPI Inflation Rate excluding Food & Energy sectors (12-mth) | Mar
Wed 07:00 PM USD FOMC Meeting Minutes
Wed 08:15 PM GBP Bank of England’s Governor Andrew Bailey speech
What happened lately
No major activities.
What can we expect from GBPUSD today?
GBPUSD on Tuesday rose 0.2% to 1.24285. Price is above 9-Day EMA while Stochastic is falling.
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 1.24611 with break above could target R2 at 1.24936 or figure level area. While towards the downside, we are looking at daily low of 1.23860 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.24561 may suggest continuation after recent positive movement.
For the week to-date, take note that GBPUSD is mixed as compared to the prior week.
Key levels to watch out:
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