GBPUSD on Thursday rose 0.33% to 1.27440. Things to look out.
|Performance after Thursday|
|Week to-date||0.4%||51.2 Pips|
Upcoming key events (London Time)
Fri 01:30 PM USD Nonfarm Payroll Employment
What happened lately
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in May below forecast and dropped to 9.8M compared to previous figure 10.103M in April
🇺🇸 In the week ending 01 July, U.S. Initial Unemployment Insurance Claims rose to 248K compared to previous figure 236K (revised from 239K) Department of Labor
🇺🇸 U.S. Challenger Job Cuts in June dropped to 40.709K compared to previous figure 80.089K in May
What can we expect from GBPUSD today?
GBPUSD on Thursday rose 0.33% to 1.27440. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks bullish as the pair ended higher after Thursday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.27923 with break above could target R2 at 1.28407 or figure level area. While towards the downside, we are looking at daily low of 1.26730 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27810 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
Manufacturers’ Shipments, Inventories, and Orders. Census Bureau
Transformation of consumer price statistics: July 2023. National Statistics
Minutes of the Federal Open Market Committee, June 13-14, 2023. Federal Reserve