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GBPUSD on Wednesday dropped -0.17% to 1.1976. Pair in consolidation. What goes around.
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Wednesday
Open High Low Close
1.19994 1.20378 1.19510 1.19763

Performance after Wednesday
Period Pct Chg Momentum
Wednesday -0.17% -20.6 Pips
Week to-date 0.89% 105.6 Pips
July -1.62% -196.8 Pips

Upcoming key events (London Time)

Fri 09:30 AM GBP S&P Global/CIPS Services PMI

What happened lately

📆 🇬🇧 GBP Retail Price Index (MoM) in June exceed forecast and rose to 0.9% compared to previous figure 0.7% in May. Source
📆 🇬🇧 GBP Consumer Price Index (MoM) in June exceed forecast and rose to 0.8% compared to previous figure 0.7% in May. Source


What can we expect from GBPUSD today?

GBPUSD on Wednesday dropped -0.17% to 1.1976. 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 1.19389 (S1).

Looking ahead today, we are looking at 1.2046 or 1.20257 (R1) as important resistance level while to the downside, the daily low of 1.1951 and 1.19389 (S1) as key support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.1951 would indicate selling pressure.

For the week to-date, take note that GBPUSD is mixed as the current price action remain uncertain due to trader indecisiveness.

Key levels to watch out:

R3 1.21125
R2 1.20752
R1 1.20257
Daily Pivot 1.19884
S1 1.19389
S2 1.19016
S3 1.18521

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Last updated: 01:32 am UTC, 21-Jul 2022

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