GBPUSD on Wednesday dropped -0.2% to 1.27181. Pair in consolidation. What we know.
|Performance after Wednesday|
|Week to-date||-0.21%||-26.7 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)
Fri 07:00 AM GBP GDP (3-mth)
Fri 07:00 AM GBP GDP (12-mth)
Fri 01:30 PM USD Producer Price Index excluding Food and Energy sectors (12-mth)
Fri 03:00 PM USD Michigan Index of Consumer Sentiment
What happened lately
No major activities.
What can we expect from GBPUSD today?
GBPUSD on Wednesday dropped -0.2% to 1.27181. 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 1.26925 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27819 or trades above daily pivot 1.27372. Break above could target R1 at 1.27628. While to the downside, we are looking at 1.26925 (S1) and daily low of 1.27116 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.27116 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:
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