GBPUSD on Monday rose 0.06% to 1.25523. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Monday
Monday0.06%7.8 Pips
Week to-date0.06%7.8 Pips
December-0.56%-70.1 Pips

Upcoming key events (London Time)

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 (12-mth)
Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)

What happened lately

No major activities.

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What can we expect from GBPUSD today?

GBPUSD on Monday rose 0.06% to 1.25523. Price is below 9-Day EMA while Stochastic is rising in oversold zone.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.25275 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.25908 or trades above daily pivot 1.25591. Break above could target R1 at 1.2584. While to the downside, we are looking at 1.25275 (S1) and daily low of 1.25343 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.25908 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 Pivot1.25591

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