GBPUSD on Monday rose 0.29% to 1.27816. Pair in consolidation. What is going on.

GBPUSD Analysis

Performance after Monday
Monday0.29%36.8 Pips
Week to-date0.29%36.8 Pips
August-0.42%-53.6 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

No major activities.

GBPUSD 4-hour Chart by TradingView

What can we expect from GBPUSD today?

GBPUSD on Monday rose 0.29% to 1.27816. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.27332 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27889 or trades above daily pivot 1.27611. Break above could target R1 at 1.28094. While to the downside, we are looking at 1.27332 (S1) and daily low of 1.27127 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.27889 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:

Daily Pivot1.27611

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