GBPUSD on Wednesday rose 0.18% to 1.24390. Pair in consolidation. What we know.
|Performance after Wednesday|
|Week to-date||-0.06%||-8 Pips|
Upcoming key events (London Time)
No major events for the day.
What happened lately
🇺🇸 U.S. Goods and Services Trade Balance in April dropped to -74.6$ compared to previous figure -60.6$ (revised from -64.2$)
🇬🇧 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
What can we expect from GBPUSD today?
GBPUSD on Wednesday rose 0.18% to 1.24390. Price is above 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 1.24999 or trades above daily pivot 1.24443. Break above could target R1 at 1.24946. While to the downside, we are looking at 1.23887 (S1) and daily low of 1.23940 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.24999 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:
You might be interested in:
U.S. International Trade in Goods and Services. Census Bureau
Quarterly Financial Report. Census Bureau
Quarterly Financial Report – Retail. Census Bureau
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
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