GBPUSD on Tuesday rose 0.29% to 1.25408. What we know.

GBPUSD Analysis

Performance after Tuesday
Tuesday0.29%36.6 Pips
Week to-date0.68%84.4 Pips
November3.23%392.9 Pips

Upcoming key events (London Time)

Wed 09:30 AM GBP Bank of England Monetary Policy Report Hearings

What happened lately

No major activities.

Latest from X (Twitter)

What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.29% to 1.25408. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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

Looking ahead for the day, immediate upside resistance level is R1 at 1.25653 with break above could target R2 at 1.25899 or figure level area. While towards the downside, we are looking at daily low of 1.25042 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.25593 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 0.68% over the past few days.

Key levels to watch out:

Daily Pivot1.25348

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Minutes of the Federal Open Market Committee, October 31-November 1, 2023. Federal Reserve

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