GBPUSD on Thursday dropped -0.02% to 1.24140. Pair in consolidation. What we know.
|Performance after Thursday|
|Week to-date||1.56%||190.3 Pips|
Upcoming key events (London Time)
Fri 07:00 AM GBP Retail Sales Volumes (1-mth)
What happened lately
🇺🇸 U.S. Industrial Production (1-mth) in October dropped to -0.6% compared to previous figure 0.1% (revised from 0.3%)
🇺🇸 U.S. Philadelphia Fed Manufacturing Survey in November below forecast and improved to -5.9 points compared to previous figure -9 points in October
🇺🇸 U.S. New York Empire State Manufacturing Index in November exceed forecast and rose to 9.1 points compared to previous figure -4.6 points in October
🇺🇸 U.S. Producer Price Index (12-mth) in October below forecast and dropped to 1.3% compared to previous figure 2.2% in September
🇬🇧 U.K. CPI Inflation Rate (CPIH) (12-mth) in October below forecast and dropped to 4.6% compared to previous figure 6.7% in September Office for National Statistics
🇬🇧 U.K. Retail Price Index (1-mth) in October below forecast and dropped to -0.2% compared to previous figure 0.5% in September Office for National Statistics
Latest from X (Twitter)
What can we expect from GBPUSD today?
GBPUSD on Thursday dropped -0.02% to 1.24140. Price is above 9-Day EMA while Stochastic is rising.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.23747 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.24560 or trades above daily pivot 1.24154. Break above could target R1 at 1.24546. While to the downside, we are looking at 1.23747 (S1) and daily low of 1.23761 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.23761 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:
You might be interested in:
Manufacturing and Trade Inventories and Sales. Census Bureau
Advance Monthly Sales for Retail and Food Services. Census Bureau
Producer Price Inflation, UK: October 2023 time series. National Statistics
Consumer price inflation, UK: October 2023. National Statistics
Producer Price Inflation, UK: October 2023. National Statistics
Consumer price inflation, UK: October 2023 time series. National Statistics
People claiming unemployment benefits by constituency. House of Commons
CPI for all items unchanged in October; shelter up. Bureau of Labor Statistics
UK labour market: November 2023. National Statistics