GBPUSD on Thursday rose 0.01% to 1.27129. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Thursday
Thursday0.01%1.8 Pips
Week to-date-1.02%-131.3 Pips
August-0.96%-122.7 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in June exceed forecast and rose to 2.3% compared to previous figure 0.4, revised from 0.3% in May Census Bureau
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q2 preliminary estimate rose to 3.7% compared to previous figure -1.2% (revised from -2.1%) Bureau of Labor Statistics
🇬🇧 U.K. Bank of England Interest Rate Decision (Bank Rate) rose to 5.25% compared to previous rate 5% Bank of England
🇺🇸 U.S. ADP Non-Farm Employment Change in July exceed forecast and dropped to 324K compared to previous figure 497K in June

GBPUSD 4-hour Chart by TradingView

What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.01% to 1.27129. Price is below 9-Day EMA while Stochastic is falling in oversold zone.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.26459 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27281 or trades above daily pivot 1.2687. Break above could target R1 at 1.2754. While to the downside, we are looking at 1.26459 (S1) and daily low of 1.26200 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.27281 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -1.02%.

Key levels to watch out:

Daily Pivot1.2687

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