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GBPUSD on Thursday dropped -0.11% to 1.1261. Pair in consolidation. What you need to know.
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Thursday
Open High Low Close
1.12546 1.13645 1.12100 1.12607
Performance after Thursday
Period Pct Chg Momentum
Thursday -0.11% -12.3 Pips
Week to-date -1.38% -158 Pips
September -3.06% -355.6 Pips

Upcoming key events (London Time)

Fri 09:30 AM GBP S&P Global/CIPS Services PMI
Fri 07:00 PM USD Fed’s Chair Powell speech

What happened lately

📆 USD In the week ending 17 September, the Initial Jobless Claims rose to 213K compared to previous figure 208K (revised from 213K).. Source
📆 ☢️ 🇬🇧 GBP BoE Interest Rate Decision rose to 2.25% compared to previous rate 1.75%. Source
📆 ☢️ 🇺🇸 USD Fed Interest Rate Decision rose to 3.25% compared to previous rate 2.5%. Source


What can we expect from GBPUSD today?

GBPUSD on Thursday dropped -0.11% to 1.1261. Price is below 9-Day EMA while Stochastic is falling but in oversold zone.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.11923 (S1).

Looking ahead today, we are looking at 1.1385 or 1.13468 (R1) as important resistance level while to the downside, the daily low of 1.1210 and 1.11923 (S1) as key support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.1210 would indicate selling pressure.

For the week to-date, take note that GBPUSD is bearish as the pair posted lower by -1.38%.

Key levels to watch out:

R3 1.15013
R2 1.14329
R1 1.13468
Daily Pivot 1.12784
S1 1.11923
S2 1.11239
S3 1.10378

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Last updated: 12:33 am UTC, 23-Sep 2022

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