GBPUSD on Tuesday rose 0.12% to 1.27068. What we know.

GBPUSD Analysis

Performance after Tuesday
PeriodPctChgMomentum
Tuesday0.12%15.5 Pips
Week to-date0.43%53.8 Pips
March0.66%83.2 Pips

Upcoming key events (London Time)

Wed 03:00 PM USD Federal Reserve Chair Jerome Powell testifies

What happened lately

🇺🇸 U.S. Factory Orders (1-mth) in January dropped to -3.6% compared to previous figure -0.3, revised from 0.2% in December Source: Census Bureau

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What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.12% to 1.27068. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.27375 with break above could target R2 at 1.27682 or figure level area. While towards the downside, we are looking at daily low of 1.26707 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.27348 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 0.43% over the past few days.

Key levels to watch out:

R31.28016
R21.27682
R11.27375
Daily Pivot1.27041
S11.26734
S21.264
S31.26093

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