GBPUSD on Thursday rose 1.15% to 1.27626. What we know.

GBPUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday1.15%144.8 Pips
Week to-date1.74%218.1 Pips
December1.14%143.5 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇬🇧 U.K. GfK Consumer Confidence in December improved to -22 points compared to previous figure -24 points in November Source: GfK
🇺🇸 In the week ending 09 December, U.S. Initial Unemployment Insurance Claims dropped to 202K compared to previous figure 220K Source: Department of Labor
🇺🇸 U.S. Monthly Retail Trade (1-mth) in November exceed forecast and rose to 0.3% compared to previous figure -0.2, revised from -0.1% in October Source: Census Bureau
🇬🇧 U.K. Bank of England Interest Rate Decision (Bank Rate) unchanged at 5.25% compared to previous rate 5.25% Source: Bank of England
🇺🇸 U.S. Interest Rate Projections – Longer unchanged at 2.5% compared to previous rate 2.5%
🇺🇸 U.S. Interest Rate Projections – 3rd year unchanged at 2.9% compared to previous rate 2.9%
🇺🇸 U.S. Interest Rate Projections – 2nd year dropped to 3.6% compared to previous rate 3.9%
🇺🇸 U.S. Fed Interest Rate Decision (Federal Funds Rate) unchanged at 5.5% compared to previous rate 5.5% Source: Federal Reserve
🇺🇸 U.S. Interest Rate Projections dropped to 5.4% compared to previous rate 5.6%
🇺🇸 U.S. Interest Rate Projections – 1st year dropped to 4.6% compared to previous rate 5.1%
🇺🇸 U.S. Producer Price Index (12-mth) in November below forecast and dropped to 0.9% compared to previous figure 1.2, revised from 1.3% in October
🇺🇸 U.S. Producer Price Index (1-mth) in November below forecast and rose to 0% compared to previous figure -0.4, revised from -0.5% in October
🇬🇧 U.K. Manufacturing Production (1-mth) in October below forecast and dropped to -1.1% compared to previous figure 0.1% in September
🇬🇧 U.K. GDP (1-mth) in October exceed forecast and dropped to -0.3% compared to previous figure 0.2% in September Source: Office for National Statistics
🇬🇧 U.K. Industrial Production (1-mth) in October exceed forecast and dropped to -0.8% compared to previous figure 0% in September
🇬🇧 U.K. Manufacturing Production (12-mth) in October below forecast and dropped to 0.8% compared to previous figure 3% in September

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What can we expect from GBPUSD today?

GBPUSD on Thursday rose 1.15% to 1.27626. Price is above 9-Day EMA while Stochastic is rising.

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

Looking ahead for the day, immediate upside resistance level is R1 at 1.28338 with break above could target R2 at 1.29049 or figure level area. While towards the downside, we are looking at daily low of 1.26117 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27939 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 1.74% over the past few days.

Key levels to watch out:

R31.3016
R21.29049
R11.28338
Daily Pivot1.27227
S11.26516
S21.25405
S31.24694

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