GBPUSD on Wednesday rose 0.22% to 1.21744. What we know.

GBPUSD Analysis

Performance after Wednesday
Wednesday0.22%26.7 Pips
Week to-date0.43%52.4 Pips
November0.21%25.4 Pips

Upcoming key events (London Time)

Thu 12:00 PM GBP Bank of England Monetary Policy Report
Thu 12:00 PM GBP Bank of England Interest Rate Decision (Bank Rate)
Fri 12:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Federal Reserve
🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in September exceed forecast and rose to 9.553M compared to previous figure 9.497, revised from 9.61M in August Bureau of Labor Statistics
🇺🇸 U.S. Housing Price Index (1-mth) in August exceed forecast and dropped to 0.6% compared to previous figure 0.8% in July
🇺🇸 U.S. Employment Cost Index in Q3 exceed forecast and rose to 1.1% compared to previous figure 1% in Q2


What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.22% to 1.21744. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks bullish as the pair ended higher after Wednesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.22011 with break above could target R2 at 1.22278 or figure level area. While towards the downside, we are looking at daily low of 1.20953 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.21749 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is mixed as compared to the prior week.

Key levels to watch out:

Daily Pivot1.21482

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