GBPUSD Analysis
| Performance after Monday | |||
| Period | Pct | Chg | Momentum |
| Monday | -0.44% | -59.0 Pips | ▼ |
| Week to-date | -0.44% | -59.0 Pips | ▼ |
| July | 0.65% | 86.0 Pips | ▲ |
Upcoming key events (GMT+8)
| Time (GMT+8) | Currency | Impact | Event |
| Tue 08:30 PM | USD | HIGH | CPI Inflation Rate (1-mth) |
| Tue 08:30 PM | USD | HIGH | CPI Inflation Rate excluding Food and Energy sectors (1-mth) |
| Wed 08:30 PM | USD | HIGH | PPI excluding Food and Energy sectors (12-mth) |
What can we expect from GBPUSD today?
The GBPUSD pair closed Monday with a 0.44% decline, ending the session at 1.33460. The daily outlook remains bearish, with the price trading below the 9-day EMA and a mixed weekly performance.
If GBPUSD manages to break above the daily pivot point of 1.33653, it could trigger a bullish scenario. Traders should watch for a move towards the first resistance level (R1) at 1.33917, and further gains could target the second resistance level (R2) at 1.34373. The rising stochastic indicator may support this upward momentum.
On the downside, a continuation of the bearish trend could see GBPUSD testing the first support level (S1) at 1.33197. A break below this level might lead to further declines towards the second support level (S2) at 1.32933. The current position below the 9-day EMA suggests that downward pressure may persist.
📈 Bull Scenario Watch resistance levels R1 and R2 for bullish continuation. | 📉 Bear Scenario Watch support levels S1 and S2 for bearish breakdown. |
Key levels to watch out:
| R3 | 1.34637 |
| R2 | 1.34373 |
| R1 | 1.33917 |
| Daily Pivot | 1.33653 |
| S1 | 1.33197 |
| S2 | 1.32933 |
| S3 | 1.32477 |