GBPUSD on Thursday dropped -0.3% to 1.26234. End February down by -0.5% or -63.3 pips lower. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Thursday
PeriodPctChgMomentum
Thursday-0.3%-38.1 Pips
Week to-date-0.35%-44.9 Pips
February-0.5%-63.3 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

🇺🇸 U.S. Personal Consumption Expenditures – Price Index (1-mth) in January rose to 0.3% compared to previous figure 0.2% in December
🇺🇸 U.S. Personal Income (1-mth) in January rose to 1% compared to previous figure 0.3% in December Source: Bureau of Economic Analysis
🇺🇸 U.S. Core Personal Consumption Expenditures (3-mth) in Q4 flash estimate rose to 2.1% compared to previous figure 2% in Q3 Source: Bureau of Economic Analysis
🇺🇸 U.S. GDP Annualized in Q4 flash estimate dropped to 3.2% compared to previous figure 3.3% in Q3 Source: Bureau of Economic Analysis

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What can we expect from GBPUSD today?

GBPUSD on Thursday dropped -0.3% to 1.26234. 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 1.25963 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26817 or trades above daily pivot 1.2639. Break above could target R1 at 1.26661. While to the downside, we are looking at 1.25963 (S1) and daily low of 1.26119 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26119 would indicate selling pressure.

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

GBPUSD ended month of February trading session down by -0.5% or -63.3 pips lower.

Key levels to watch out:

R31.27359
R21.27088
R11.26661
Daily Pivot1.2639
S11.25963
S21.25692
S31.25265

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