GBPUSD on Wednesday dropped -0.06% to 1.27025. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Wednesday
Wednesday-0.06%-8.2 Pips
Week to-date0.08%9.7 Pips
July0.07%9.1 Pips

Upcoming key events (London Time)

Thu 01:15 PM USD ADP Non-Farm Employment Change
Thu 03:00 PM USD ISM Services PMI
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

No major activities.

GBPUSD 4-hour Chart by TradingView

What can we expect from GBPUSD today?

GBPUSD on Wednesday dropped -0.06% to 1.27025. 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 1.26818 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27353 or trades above daily pivot 1.27085. Break above could target R1 at 1.27293. While to the downside, we are looking at 1.26818 (S1) and daily low of 1.26878 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26878 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:

Daily Pivot1.27085

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