GBPUSD on Monday dropped -0.11% to 1.27248. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Monday
PeriodPctChgMomentum
Monday-0.11%-14.2 Pips
Week to-date-0.11%-14.2 Pips
March0.8%101.6 Pips

Upcoming key events (London Time)

Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)
Wed 06:00 PM USD FOMC Monetary Policy Statement
Wed 06:00 PM USD FOMC Economic Projections
Wed 06:00 PM USD Fed Interest Rate Decision (Federal Funds Rate)

What happened lately

No major activities.

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What can we expect from GBPUSD today?

GBPUSD on Monday dropped -0.11% to 1.27248. 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 1.27127 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27467 or trades above daily pivot 1.27297. Break above could target R1 at 1.27418. While to the downside, we are looking at 1.27127 (S1) and daily low of 1.27176 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.27176 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:

R31.27709
R21.27588
R11.27418
Daily Pivot1.27297
S11.27127
S21.27006
S31.26836

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