GBPUSD on Wednesday rose 0.09% to 1.24582. Pair in consolidation. What we know.

GBPUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.09%	11.4 Pips
Week to-date	0.67%	82.4 Pips
April	-1.42%	-179.7 Pips

Upcoming key events (London Time)

Thu 01:30 PM USD GDP Annualized
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (1-mth)
Fri 01:30 PM USD Personal Consumption Expenditures Price Index (12-mth)

What happened lately

🇺🇸 U.S. Nondefense Capital Goods Orders excluding Aircraft in March dropped to 0.2% compared to previous figure 0.4% (revised from 0.7%) Source: Census Bureau

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Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.09% to 1.24582. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.24301 (S1).

Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.24700 or trades above daily pivot 1.24501. Break above could target R1 at 1.24781. While to the downside, we are looking at 1.24301 (S1) and daily low of 1.24220 as support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.24700 may suggest continuation after recent positive movement.

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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