GBPUSD by TradingView
| Wednesday | |||
| Open | High | Low | Close |
| 1.20310 | 1.20891 | 1.19640 | 1.20269 |
| Performance after Wednesday | |||||
| Period | Pct | Chg | Momentum | ||
| Wednesday | 0.06% | 6.9 Pips |  |
||
| Week to-date | 0.72% | 85.9 Pips | |
||
| February | -2.44% | -301 Pips |  |
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Upcoming key events (London Time)
Fri 03:00 PM USD ISM Services PMI
What happened lately
📆 ☢️ 🇺🇸 USD ISM Manufacturing PMI in February below forecast and rose to 47.7 points compared to previous figure 47.4 points in January. Source 📆 🇺🇸 USD S&P Global Manufacturing PMI in February below forecast and dropped to 47.3 points compared to previous figure 47.8 points in January. Source
📆 🇬🇧 GBP S&P Global/CIPS Manufacturing PMI in February exceed forecast and rose to 49.3 points compared to previous figure 49.2 points in January. Source 📆 🇺🇸 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 Wednesday rose 0.06% to 1.2027. 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 1.19642 (S1).
Looking ahead today, we are looking at 1.2143 or 1.20893 (R1) as important resistance level while to the downside, the daily low of 1.1964 and 1.19642 (S1) as key support levels. GBPUSD need to break on either side to indicate a short-term bias. A break above 1.2089 would suggest bullish bias after recent positive movement.
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 | 1.22144 |
| R2 | 1.21518 |
| R1 | 1.20893 |
| Daily Pivot | 1.20267 |
| S1 | 1.19642 |
| S2 | 1.19016 |
| S3 | 1.18391 |
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: 11:39 pm UTC, 01-Mar 2023
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