GBPUSD on Tuesday rose 0.61% to 1.27047. What we know.

GBPUSD Analysis

Performance after Tuesday
Tuesday0.61%77.4 Pips
Week to-date0.82%103.3 Pips
November4.56%554.4 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD GDP Annualized
Wed 03:05 PM GBP Bank of England Governor Andrew Bailey speech
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇺🇸 U.S. New-Home Sales Change (1-mth) in October below forecast and dropped to -5.6% compared to previous figure 8.6, revised from 12.3% in September

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What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.61% to 1.27047. 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 1.27443 with break above could target R2 at 1.27839 or figure level area. While towards the downside, we are looking at daily low of 1.26063 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27149 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 0.82% over the past few days.

Key levels to watch out:

Daily Pivot1.26753

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