GBPUSD on Tuesday rose 0.45% to 1.22932. What we know.
|Performance after Tuesday|
|Week to-date||0.45%||55.2 Pips|
Upcoming key events (London Time)
Wed 01:30 PM USD Producer Price Index (12-mth)
Wed 07:00 PM USD FOMC Meeting Minutes
Thu 01:30 PM USD CPI Inflation Rate (12-mth)
What happened lately
🇬🇧 U.K. BRC Like-For-Like Retail Sales (12-mth) in September below forecast and dropped to 2.8% compared to previous figure 4.3% in August
What can we expect from GBPUSD today?
GBPUSD on Tuesday rose 0.45% to 1.22932. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks bullish as the pair ended higher after Tuesday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.23207 with break above could target R2 at 1.23483 or figure level area. While towards the downside, we are looking at daily low of 1.22114 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.22936 may suggest continuation after recent positive movement.
For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 0.45% over the past few days.
Key levels to watch out:
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No major reports.