|Performance after Tuesday|
|Week to-date||-0.65%||-80.9 Pips|
Upcoming key events (London Time)
Thu 01:30 PM USD Durable Goods Orders
Thu 01:30 PM USD Gross Domestic Product Annualized
Thu 01:30 PM USD Nondefense Capital Goods Orders ex Aircraft
What happened lately
📆 🇬🇧 GBP S&P Global/CIPS Manufacturing PMI in January preliminary estimate exceed forecast and rose to 46.7 points compared to previous figure 45.3 points in December. Source
📆 ☢️ 🇬🇧 GBP S&P Global/CIPS Services PMI in January preliminary estimate below forecast and dropped to 48 points compared to previous figure 49.9 points in December. Source
📆 🇬🇧 GBP S&P Global/CIPS Composite PMI in January preliminary estimate below forecast and dropped to 47.8 points compared to previous figure 49 points in December. Source
What can we expect from GBPUSD today?
GBPUSD on Tuesday dropped -0.42% to 1.2325. Price is above 9-Day EMA while Stochastic is falling but in overbought zone.
Updated daily direction for GBPUSD looks mixed as the pair is likely to consolidate above 1.22537 (S1).
Looking ahead today, we are looking at 1.2448 or 1.24055 (R1) as important resistance level while to the downside, the daily low of 1.2262 and 1.22537 (S1) as key support levels. GBPUSD need to break on either side to indicate a short-term bias. A close below 1.2262 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:
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No major reports.
Last updated: 11:33 pm UTC, 24-Jan 2023
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