GBPUSD on Thursday dropped -0.1% to 1.26239. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Thursday
Period	Pct	Chg	Momentum
Thursday	-0.1%	-13.1 Pips
Week to-date	0.18%	22.9 Pips
March	0%	-0.1 Pips

Upcoming key events (London Time)

Fri 12:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 12:30 PM USD Personal Consumption Expenditures Price Index (12-mth)
Fri 03:30 PM USD Federal Reserve Chair Jerome Powell speech

What happened lately

🇺🇸 U.S. Michigan Index of Consumer Sentiment in March rose to 79.4 points compared to previous figure 76.5 points in February Source: University of Michigan
🇺🇸 U.S. UoM 5-year Consumer Inflation Expectation in March dropped to 2.8% compared to previous figure 2.9% in February Source: University of Michigan
🇺🇸 In the week ending 23 March, U.S. Initial Unemployment Insurance Claims dropped to 210K compared to previous figure 212K (revised from 210K) Source: Department of Labor
🇬🇧 U.K. GDP (3-mth) in Q4 unchanged at -0.3% compared to previous report in Q3. Source: Office for National Statistics

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Thursday dropped -0.1% to 1.26239. Price is below 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.25881 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.26546 or trades above daily pivot 1.26213. Break above could target R1 at 1.26572. While to the downside, we are looking at 1.25881 (S1) and daily low of 1.25855 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.25855 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:

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