GBPUSD by TradingView
| Tuesday | |||
| Open | High | Low | Close |
| 1.20631 | 1.21432 | 1.20160 | 1.20200 |
| Performance after Tuesday | |||||
| Period | Pct | Chg | Momentum | ||
| Tuesday | -0.36% | -43 Pips |  |
||
| Week to-date | 0.67% | 80.6 Pips | |
||
| February | -2.44% | -258 Pips |  |
||
Upcoming key events (London Time)
Wed 10:10 AM GBP BoE’s Governor Bailey speech
Wed 03:00 PM USD ISM Manufacturing PMI
What happened lately
📆 🇺🇸 USD Chicago Purchasing Managers’ Index in February below forecast and dropped to 43.6 points compared to previous figure 44.3 points in January. Source 📆 🇺🇸 USD Pending Home Sales (MoM) in January exceed forecast and rose to 8.1% compared to previous figure 1.1, revised from 2.5% in December. Source 📆 ☢️ 🇺🇸 USD Durable Goods Orders in January exceed forecast and dropped to -4.5% compared to previous figure 5.1, revised from 5.6% in December. Source
What can we expect from GBPUSD today?
GBPUSD on Tuesday dropped -0.36% to 1.2020. 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 1.19763 (S1).
Looking ahead today, to see upside interest, we prefer to look at price breakout of last daily high of 1.2143 or trades above daily pivot 1.20597 while to the downside, the daily low of 1.2016 and 1.19763 (S1) as key support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.2016 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.
GBPUSD ended month of February trading session down by -2.44% or -258 pips lower.
Key levels to watch out:
| R3 | 1.22307 |
| R2 | 1.21869 |
| R1 | 1.21035 |
| Daily Pivot | 1.20597 |
| S1 | 1.19763 |
| S2 | 1.19325 |
| S3 | 1.18491 |
You might also be interested in:
Minutes of the Board’s discount rate meetings from January 23 and February 1, 2023 Source: Federal Reserve Advance Retail Inventories Source: Census Bureau Advance U.S. International Trade in Goods Source: Census Bureau Advance Wholesale Inventories Source: Census Bureau Advance Monthly Manufacturers’ Shipments, Inventories, and Orders Source: Census Bureau
Last updated: 02:53 am UTC, 01-Mar 2023
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