GBPUSD on Tuesday dropped -0.08% to 1.24224. Pair in consolidation. What we know.
GBPUSD Analysis
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.08% | -10 Pips |  | ||
| Week to-date | -0.2% | -24.6 Pips | | ||
| June | -0.12% | -15.2 Pips | | ||
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇬🇧 BRC Like-For-Like Retail Sales (12-mth) in May exceed forecast and dropped to 3.7% compared to previous figure 5.2% in April 
🇺🇸 Factory Orders (1-mth) in April exceed forecast and rose to 4% compared to previous figure 0.9% in March Census Bureau
What can we expect from GBPUSD today?
GBPUSD on Tuesday dropped -0.08% to 1.24224. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.23887 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.24586 or trades above daily pivot 1.24237. Break above could target R1 at 1.24573. While to the downside, we are looking at 1.23887 (S1) and daily low of 1.23900 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.23900 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 | 1.25259 |
| R2 | 1.24923 |
| R1 | 1.24573 |
| Daily Pivot | 1.24237 |
| S1 | 1.23887 |
| S2 | 1.23551 |
| S3 | 1.23201 |
You might be interested in:
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
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