GBPUSD on Tuesday rose 0.09% to 1.25666. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday0.09%11.7 Pips
Week to-date0.18%22.1 Pips
December-0.44%-55.2 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)
Thu 12:00 PM GBP Bank of England Interest Rate Decision (Bank Rate)
Thu 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 U.S. CPI Inflation Rate (12-mth) in November dropped to 3.1% compared to previous figure 3.2% in October Source: Bureau of Labor Statistics
🇬🇧 U.K. Claimant Count Rate in November unchanged at 4% compared to previous report in October. Source: Office for National Statistics
🇬🇧 U.K. Labour Market Employment Change in October exceed forecast and dropped to 50K compared to previous figure 54K in September Source: Office for National Statistics
🇬🇧 U.K. ILO Unemployment Rate (3-mth) in October unchanged at 4.2% compared to previous report in September. The actual figure is also in line with the forecast Source: Office for National Statistics
🇬🇧 U.K. Average Earnings Excluding Bonus (3Mo/Yr) in October dropped to 7.3% compared to previous figure 7.8% (revised from 7.7%) Source: Office for National Statistics
🇬🇧 U.K. Average Earnings Including Bonus (3Mo/Yr) in October below forecast and dropped to 7.2% compared to previous figure 8, revised from 7.9% in September Source: Office for National Statistics
🇬🇧 U.K. Claimant Count Change in November rose to 16K compared to previous figure 8.9K (revised from 17.8K) Source: Office for National Statistics

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What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.09% to 1.25666. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.25149 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26156 or trades above daily pivot 1.25653. Break above could target R1 at 1.26169. While to the downside, we are looking at 1.25149 (S1) and daily low of 1.25136 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.26156 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:

R31.27189
R21.26673
R11.26169
Daily Pivot1.25653
S11.25149
S21.24633
S31.24129

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