GBPUSD on Thursday rose 0.35% to 1.21950. What we know.

GBPUSD Analysis

Performance after Thursday
Thursday0.35%42.6 Pips
Week to-date0.6%73 Pips
November0.38%46.6 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in September exceed forecast and rose to 2.8% compared to previous figure 1, revised from 1.2% in August Census Bureau
🇺🇸 U.S. Nonfarm Business Labor Productivity in Q3 preliminary estimate exceed forecast and rose to 4.7% compared to previous figure 3.5% in Q2 Bureau of Labor Statistics
🇬🇧 U.K. Bank of England Interest Rate Decision (Bank Rate) unchanged at 5.25% compared to previous rate 5.25% Bank of England
🇺🇸 U.S. Challenger Job Cuts in October dropped to 36.836K compared to previous figure 47.457K in September
🇺🇸 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


What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.35% to 1.21950. Price is above 9-Day EMA while Stochastic is rising.

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

Looking ahead for the day, immediate upside resistance level is R1 at 1.22286 with break above could target R2 at 1.22621 or figure level area. While towards the downside, we are looking at daily low of 1.21549 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.22253 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 Pivot1.21917

You might be interested in:

Construction Spending. Census Bureau
Employee Earnings in the UK: 2023. National Statistics
Federal Reserve issues FOMC statement. Federal Reserve
Housing Vacancies and Homeownership. Census Bureau
Rental Vacancy Rate. Census Bureau

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