Forex

GBPUSD on Tuesday dropped -0.33% to 1.25909. What we know.

GBPUSD on Tuesday dropped -0.33% to 1.25909. What we know.
GBPUSD on Tuesday dropped -0.33% to 1.25909.  What we know.

GBPUSD Analysis

Performance after Tuesday
Period Pct Chg Momentum
Tuesday -0.33% -41.7 Pips
Week to-date -0.92% -117.2 Pips
December -0.24% -30.8 Pips

Upcoming key events (London Time)

No major events for the day.

What happened lately

?? U.S. Job Openings and Labor Turnover Survey (JOLTS) in October below forecast and dropped to 8.733M compared to previous figure 9.35, revised from 9.553M in September Source: Bureau of Labor Statistics
?? U.K. BRC Like-For-Like Retail Sales (12-mth) in November unchanged at 2.6% compared to previous report in October.
?? 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

Latest from X (Twitter)


What can we expect from GBPUSD today?

GBPUSD on Tuesday dropped -0.33% to 1.25909. Price is below 9-Day EMA while Stochastic is falling.

Updated daily direction for GBPUSD looks bearish as the pair posted lower in Tuesday trading session.

Looking ahead for the day, immediate support level is at S1 1.25611 with break below could see further selling pressure towards S2 at 1.25314. To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.26522 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. A close below 1.25769 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 1.27117
R2 1.2682
R1 1.26364
Daily Pivot 1.26067
S1 1.25611
S2 1.25314
S3 1.24858

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