GBPUSD on Monday dropped -0.33% to 1.28127. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Monday
PeriodPctChgMomentum
Monday-0.33%-42.1 Pips
Week to-date-0.33%-42.1 Pips
March1.51%190.3 Pips

Upcoming key events (London Time)

Tue 07:00 AM GBP ILO Unemployment Rate (3-mth)
Tue 07:00 AM GBP Labour Market Employment Change
Tue 12:30 PM USD CPI Inflation Rate (12-mth)

What happened lately

No major activities.

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What can we expect from GBPUSD today?

GBPUSD on Monday dropped -0.33% to 1.28127. Price is above 9-Day EMA while Stochastic is falling in overbought zone.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.27843 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.28620 or trades above daily pivot 1.28231. Break above could target R1 at 1.28516. While to the downside, we are looking at 1.27843 (S1) and daily low of 1.27947 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.27947 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:

R31.29189
R21.28904
R11.28516
Daily Pivot1.28231
S11.27843
S21.27558
S31.2717

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