GBPUSD on Thursday dropped -0.14% to 1.27069. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Thursday
Thursday-0.14%-17.5 Pips
Week to-date0.05%6.1 Pips
January-0.17%-22 Pips

Upcoming key events (London Time)

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

What happened lately

🇺🇸 U.S. Gross Domestic Product Price Index in Q4 preliminary estimate below forecast and dropped to 1.5% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 preliminary estimate unchanged at 2% compared to previous report in Q3. The actual figure is also in line with the forecast Source: Bureau of Economic Analysis
🇺🇸 U.S. Durable Goods Orders excluding Transportation in December exceed forecast and rose to 0.6% compared to previous figure 0.4, revised from 0.5% in November Source: Census Bureau

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What can we expect from GBPUSD today?

GBPUSD on Thursday dropped -0.14% to 1.27069. 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 1.26779 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27425 or trades above daily pivot 1.27102. Break above could target R1 at 1.27392. While to the downside, we are looking at 1.26779 (S1) and daily low of 1.26812 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26812 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:

Daily Pivot1.27102

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