GBPUSD on Friday rose 0.31% to 1.1862. Pair in consolidation. What goes around.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn


Friday
Open High Low Close
1.18245 1.18746 1.18038 1.18618

Performance after Friday
Period Pct Chg Momentum
Friday 0.31% 37.2 Pips
Week ending 2022-07-15 -1.37% -165.2 Pips
July -2.56% -311.3 Pips

Upcoming key events (London Time)

Tue 07:00 AM GBP Claimant Count Change
Tue 07:00 AM GBP ILO Unemployment Rate (3M)

What happened lately

📆 🇺🇸 USD Retail Sales ex Autos (MoM) in June exceed forecast and rose to 1% compared to previous figure 0.6, revised from 0.5% in May. Source
📆 🇺🇸 USD Monthly Budget Statement in June exceed forecast and dropped to -89$ compared to previous figure -66$ in May. Source


What can we expect from GBPUSD today?

GBPUSD on Friday rose 0.31% to 1.1862. Price is below 9-Day EMA while Stochastic is rising but in oversold zone.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.18189 (S1).

Looking ahead on Monday, we are looking at 1.1893 or 1.18897 (R1) as important resistance level while to the downside, the daily low of 1.1804 and 1.18189 (S1) as key support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.1875 would suggest bullish bias after recent positive movement.

For the week ending 2022-07-15 take note that GBPUSD is bearish as the pair posted lower by -1.37%.

Key levels to watch out:

R3 1.19605
R2 1.19175
R1 1.18897
Daily Pivot 1.18467
S1 1.18189
S2 1.17759
S3 1.17481

You might also be interested in:

Advance Monthly Sales for Retail and Food Services Source: Census Bureau
Business Formation Statistics Source: Census Bureau
U.S. import prices increase 0.2% in June on higher fuel prices; export prices rise 0.7% Source: Bureau of Labor Statistics Publications
PPI for final demand advances 1.1% in June; goods rise 2.4%, services increase 0.4% Source: Bureau of Labor Statistics Publications

Last updated: 01:31 am UTC, 18-Jul 2022

#GBPUSD Trending on Twitter

Latest Posts
Category