Forex

GBPUSD on Monday dropped -0.61% to 1.26305. Pair in consolidation. What we know.

GBPUSD on Monday dropped -0.61% to 1.26305. Pair in consolidation. What we know.
GBPUSD on Monday dropped -0.61% to 1.26305.  Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Monday
Period Pct Chg Momentum
Monday -0.61% -77.6 Pips
Week to-date -0.61% -77.6 Pips
December 0.07% 8.9 Pips

Upcoming key events (London Time)

Tue 03:00 PM USD ISM Services PMI

What happened lately

?? U.S. Factory Orders (1-mth) in October exceed forecast and dropped to -3.6% compared to previous figure 2.3, revised from 2.8% in September Source: Census Bureau

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What can we expect from GBPUSD today?

GBPUSD on Monday dropped -0.61% to 1.26305. Price is above 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.25832 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.27180 or trades above daily pivot 1.26506. Break above could target R1 at 1.26979. While to the downside, we are looking at 1.25832 (S1) and daily low of 1.26033 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.26033 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:

R3 1.28126
R2 1.27653
R1 1.26979
Daily Pivot 1.26506
S1 1.25832
S2 1.25359
S3 1.24685

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