GBPUSD by TradingView
| Thursday | |||
| Open | High | Low | Close |
| 1.20267 | 1.20364 | 1.19240 | 1.19514 |
| Performance after Thursday | |||||
| Period | Pct | Chg | Momentum | ||
| Thursday | -0.64% | -77 Pips |  |
||
| Week to-date | 0.09% | 10.4 Pips |  |
||
| February | -2.99% | -368.5 Pips | |
||
Upcoming key events (London Time)
Fri 03:00 PM USD ISM Services PMI
What happened lately
📆 🇺🇸 USD Unit Labor Costs in Q4 exceed forecast and rose to 3.2% compared to previous figure 1.1% in Q3. Source 🇺🇸 📆 USD In the week ending 25 February, the Initial Jobless Claims dropped to 190K compared to previous figure 192K. Source 📆 ☢️ 🇺🇸 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
What can we expect from GBPUSD today?
GBPUSD on Thursday dropped -0.64% to 1.1951. Price is below 9-Day EMA while Stochastic is falling.
Updated daily direction for GBPUSD looks bearish as the pair posted lower in Thursday trading session.
Looking ahead for the day, immediate support level is at 1.19048 (S1) with break below could see further selling pressure towards 1.18582 (S2). To the upside, with the current momentum bearish, we prefer to look at breakout of the recent daily high of 1.2036 as a potential indicator of buying interest. Failure to break the resistance level would continue to echo bearish sentiment. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.1924 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 | 1.21296 |
| R2 | 1.20830 |
| R1 | 1.20172 |
| Daily Pivot | 1.19706 |
| S1 | 1.19048 |
| S2 | 1.18582 |
| S3 | 1.17924 |
You might also be interested in:
Construction Spending Source: Census Bureau 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
Last updated: 11:38 pm UTC, 02-Mar 2023
#GBPUSD Trending on Twitter
