GBPUSD on Monday dropped -0.12% to 1.26146. Pair in consolidation. What we know.
GBPUSD Analysis
| Performance after Monday | |||||
| Period | Pct | Chg | Momentum | ||
| Monday | -0.12% | -15.3 Pips |  | ||
| Week to-date | -0.12% | -15.3 Pips | | ||
| May | 0.42% | 52.4 Pips |  | ||
Upcoming key events (London Time)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
What happened lately
No major activities.
What can we expect from GBPUSD today?
GBPUSD on Monday dropped -0.12% to 1.26146. Price is above 9-Day EMA while Stochastic is rising in overbought zone.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.25946 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26687 or trades above daily pivot 1.26317. Break above could target R1 at 1.26516. While to the downside, we are looking at 1.25946 (S1) and daily low of 1.26117 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26117 would indicate selling pressure.
For the week to-date, take note that GBPUSD is mixed as compared to the prior week.
Key levels to watch out:
| R3 | 1.27086 |
| R2 | 1.26887 |
| R1 | 1.26516 |
| Daily Pivot | 1.26317 |
| S1 | 1.25946 |
| S2 | 1.25747 |
| S3 | 1.25376 |
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