GBPUSD on Wednesday rose 0.41% to 1.26668. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Wednesday
Wednesday0.41%51.9 Pips
Week to-date-0.5%-63.2 Pips
January-0.49%-62.4 Pips

Upcoming key events (London Time)

Fri 01:30 PM USD Average Hourly Earnings (12-mth)
Fri 01:30 PM USD Average Hourly Earnings (1-mth)
Fri 01:30 PM USD Nonfarm Payroll Employment

What happened lately

🇺🇸 U.S. Job Openings and Labor Turnover Survey (JOLTS) in November below forecast and dropped to 8.79M compared to previous figure 8.852, revised from 8.733M in October Source: Bureau of Labor Statistics

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What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.41% to 1.26668. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.26292 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26766 or trades above daily pivot 1.26529. Break above could target R1 at 1.26905. While to the downside, we are looking at 1.26292 (S1) and daily low of 1.26153 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.26766 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -0.5%.

Key levels to watch out:

Daily Pivot1.26529

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