GBPUSD on Wednesday rose 0.25% to 1.27412. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday0.25%31.4 Pips
Week to-date0.19%23.9 Pips
January0.09%11.2 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD CPI Inflation Rate (12-mth)
Fri 01:30 PM USD PPI excluding Food and Energy sectors (12-mth)

What happened lately

No major activities.

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What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.25% to 1.27412. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.27033 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27440 or trades above daily pivot 1.27237. Break above could target R1 at 1.27615. While to the downside, we are looking at 1.27033 (S1) and daily low of 1.26858 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.27440 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:

R31.28197
R21.27819
R11.27615
Daily Pivot1.27237
S11.27033
S21.26655
S31.26451

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