GBPUSD on Tuesday dropped 0% to 1.26845. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday0%-0.3 Pips
Week to-date0.12%15.3 Pips
February-0.02%-2.7 Pips

Upcoming key events (London Time)

Wed 01:30 PM USD GDP Annualized
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Thu 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)

What happened lately

🇺🇸 U.S. Housing Price Index (1-mth) in December dropped to 0.1% compared to previous figure 0.4, revised from 0.3% in November
🇺🇸 U.S. Durable Goods Orders in January dropped to -6.1% compared to previous figure -0.3, revised from 0% in December Source: Census Bureau

Latest from X (Twitter)


What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped 0% to 1.26845. 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 1.2664 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26967 or trades above daily pivot 1.26804. Break above could target R1 at 1.27008. While to the downside, we are looking at 1.2664 (S1) and daily low of 1.26599 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26599 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:

R31.27376
R21.27172
R11.27008
Daily Pivot1.26804
S11.2664
S21.26436
S31.26272

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