GBPUSD on Monday dropped -0.1% to 1.27230. What we know.

GBPUSD Analysis

Performance after Monday
PeriodPctChgMomentum
Monday-0.1%-12.3 Pips
Week to-date-0.19%-24.1 Pips
January-0.05%-6.8 Pips

Upcoming key events (London Time)

Tue 07:00 AM GBP Labour Market Employment Change
Tue 03:00 PM GBP Bank of England Governor Andrew Bailey speech
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)
Wed 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

No major activities.

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What can we expect from GBPUSD today?

GBPUSD on Monday dropped -0.1% to 1.27230. Price is below 9-Day EMA while Stochastic is falling.

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

Looking ahead for the day, immediate support level is at S1 1.2702 with break below could see further selling pressure towards S2 at 1.2681. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.27652 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.27126 would indicate selling pressure.

For the week to-date, take note that GBPUSD is mixed as compared to the prior week.

Key levels to watch out:

R31.28072
R21.27862
R11.27546
Daily Pivot1.27336
S11.2702
S21.2681
S31.26494

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