GBPUSD on Thursday rose 0.2% to 1.27678. What is going on.

GBPUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday0.2%25.8 Pips
Week to-date0.4%50.5 Pips
January0.3%38.4 Pips

Upcoming key events (London Time)

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

What happened lately

🇺🇸 U.S. CPI Inflation Rate (12-mth) in December exceed forecast and rose to 3.4% compared to previous figure 3.1% in November Source: Bureau of Labor Statistics
🇺🇸 U.S. CPI Inflation Rate (1-mth) in December exceed forecast and rose to 0.3% compared to previous figure 0.1% in November Source: Bureau of Labor Statistics
🇺🇸 In the week ending 06 January, U.S. Initial Unemployment Insurance Claims dropped to 202K compared to previous figure 203K (revised from 202K) Source: Department of Labor

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What can we expect from GBPUSD today?

GBPUSD on Thursday rose 0.2% to 1.27678. 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 1.28036 with break above could target R2 at 1.28394 or figure level area. While towards the downside, we are looking at daily low of 1.26896 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27824 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:

R31.28964
R21.28394
R11.28036
Daily Pivot1.27466
S11.27108
S21.26538
S31.2618

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