GBPUSD on Tuesday dropped -0.8% to 1.26211. What we know.

GBPUSD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday-0.8%-101.9 Pips
Week to-date-0.86%-108.9 Pips
January-0.86%-109 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

No major activities.

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What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.8% to 1.26211. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 1.25676 with break below could see further selling pressure towards S2 at 1.25142. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.27599 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.26103 would indicate selling pressure.

For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.86%.

Key levels to watch out:

R31.28668
R21.28134
R11.27172
Daily Pivot1.26638
S11.25676
S21.25142
S31.2418

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