GBPUSD on Tuesday dropped -0.3% to 1.27422. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Tuesday
Tuesday-0.3%-37.8 Pips
Week to-date-0.02%-2.6 Pips
August-0.72%-92.5 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD CPI Inflation Rate (1-mth)
Thu 01:30 PM USD CPI Inflation Rate (12-mth)

What happened lately

No major activities.

GBPUSD 4-hour Chart by TradingView

What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.3% to 1.27422. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.26889 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27853 or trades above daily pivot 1.27371. Break above could target R1 at 1.27904. While to the downside, we are looking at 1.26889 (S1) and daily low of 1.26838 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26838 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 Pivot1.27371

You might be interested in:

U.S. International Trade in Goods and Services. Census Bureau

Leave a comment

Your email address will not be published. Required fields are marked *