GBPUSD on Tuesday rose 0.22% to 1.26208. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday0.22%27.3 Pips
Week to-date0.18%23 Pips
February-0.51%-64.9 Pips

Upcoming key events (London Time)

Wed 07:00 PM USD FOMC Meeting Minutes

What happened lately

No major activities.

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What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.22% to 1.26208. 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 1.2577 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26685 or trades above daily pivot 1.26227. Break above could target R1 at 1.26666. While to the downside, we are looking at 1.2577 (S1) and daily low of 1.25789 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.26685 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:

R31.27562
R21.27123
R11.26666
Daily Pivot1.26227
S11.2577
S21.25331
S31.24874

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