GBPUSD on Tuesday dropped -0.69% to 1.21597. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Tuesday
Tuesday-0.69%-84.1 Pips
Week to-date0%-0.3 Pips
October-0.31%-38 Pips

Upcoming key events (London Time)

Wed 09:35 PM USD Federal Reserve Chair Jerome Powell speech
Thu 01:30 PM USD GDP Annualized

What happened lately

🇬🇧 U.K. Employment Change in August exceed forecast and improved to -82K compared to previous figure -207K in July Office for National Statistics
🇬🇧 U.K. ILO Unemployment Rate (3-mth) in August below forecast and dropped to 4.2% compared to previous figure 4.3% in July Office for National Statistics
🇬🇧 U.K. Claimant Count Change in September exceed forecast and rose to 20.4K compared to previous figure 0.9K in August Office for National Statistics


What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.69% to 1.21597. 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 1.21121 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.22887 or trades above daily pivot 1.22004. Break above could target R1 at 1.2248. While to the downside, we are looking at 1.21121 (S1) and daily low of 1.21528 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.21528 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 Pivot1.22004

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