GBPUSD on Monday rose 0.45% to 1.22787. What we know.
|Performance after Monday|
|Week to-date||0.45%||55 Pips|
Upcoming key events (London Time)
Tue 07:00 AM GBP Claimant Count Change
Tue 07:00 AM GBP Labour Market Employment Change
Tue 07:00 AM GBP ILO Unemployment Rate (3-mth)
Tue 01:30 PM USD CPI Inflation Rate (1-mth)
Tue 01:30 PM USD CPI Inflation Rate (12-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)
Wed 09:30 AM GBP Bank of England Monetary Policy Report Hearings
Wed 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)
Wed 01:30 PM USD Monthly Retail Trade (1-mth)
What happened lately
No major activities.
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What can we expect from GBPUSD today?
GBPUSD on Monday rose 0.45% to 1.22787. Price is above 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks bullish as the pair ended higher after Monday trading session.
Looking ahead for the day, immediate upside resistance level is R1 at 1.22984 with break above could target R2 at 1.2318 or figure level area. While towards the downside, we are looking at daily low of 1.22227 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.22802 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:
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No major reports.