GBPUSD on Tuesday rose 0.04% to 1.29734. What we know.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.04%	4.7 Pips
Week to-date	0.05%	6.6 Pips
July	2.56%	324.4 Pips

Upcoming key events (London Time)

Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (1-mth)
Wed 07:00 AM GBP CPI Inflation Rate (CPIH) (12-mth)
Thu 07:00 AM GBP Labour Force Survey Employment Change

What happened lately

🇺🇸 U.S. Retail Trade Control Group in June rose to 0.9% compared to previous figure 0.4% in May Source: Census Bureau

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.04% to 1.29734. Price is above 9-Day EMA while Stochastic is rising.

Updated daily direction for GBPUSD looks bullish as the pair ended higher after Tuesday trading session.

Looking ahead for the day, immediate upside resistance level is R1 at 1.29896 with break above could target R2 at 1.30059 or figure level area. While towards the downside, we are looking at daily low of 1.29377 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.29799 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is mixed as compared to the prior week.

Key levels to watch out:

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