GBPUSD on Wednesday rose 0.3% to 1.27232. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Wednesday
PeriodPctChgMomentum
Wednesday0.3%37.6 Pips
Week to-date0.18%22.5 Pips
January-0.05%-6.7 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

No major activities.

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What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.3% to 1.27232. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.26806 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27748 or trades above daily pivot 1.27277. Break above could target R1 at 1.27703. While to the downside, we are looking at 1.26806 (S1) and daily low of 1.26851 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.27748 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:

R31.286
R21.28174
R11.27703
Daily Pivot1.27277
S11.26806
S21.2638
S31.25909

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