GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.34%	-43 Pips
Week to-date	-0.56%	-70.8 Pips
August	-1.26%	-161.9 Pips

Upcoming key events (London Time)

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

🇺🇸 In the week ending 05 August, U.S. Initial Unemployment Insurance Claims rose to 248K compared to previous figure 227K Department of Labor

What can we expect from GBPUSD today?

GBPUSD on Thursday dropped -0.34% to 1.26740. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks bearish as the pair posted lower in Thursday trading session.

Looking ahead for the day, immediate support level is at S1 1.26223 with break below could see further selling pressure towards S2 at 1.25706. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.28187 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.26688 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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