GBPUSD on Tuesday rose 0.78% to 1.28657. What we know.

GBPUSD Analysis

Performance after Tuesday
Period	Pct	Chg	Momentum
Tuesday	0.78%	100 Pips
Week to-date	0.9%	115.3 Pips
August	0.1%	12.7 Pips

Upcoming key events (London Time)

Wed 07:00 AM GBP CPI Inflation Rate (12-mth)
Wed 01:30 PM USD CPI Inflation Rate (1-mth)
Wed 01:30 PM USD CPI Inflation Rate (12-mth)
Thu 07:00 AM GBP GDP (3-mth)
Thu 01:30 PM USD Monthly Retail Trade (1-mth)

What happened lately

🇺🇸 In July, the U.S. Producer Price Index excluding Food & Energy dropped to 0% compared to the revised June figure of 0.3%, previously reported as 0.4%. Source: Bureau of Labor Statistics
🇺🇸 The U.S. Producer Price Index (12-month) for July dropped to 2.2%, down from the revised June figure of 2.7%, which was initially reported as 2.6%. Source: Bureau of Labor Statistics
The U.S. PPI excluding Food and Energy sectors (12-month) in July dropped to 2.4% compared to the previous figure of 3% in June.
🇺🇸 In July, the U.S. Producer Price Index (1-mth) dropped to 0.1% from 0.2% in June. Source: Bureau of Labor Statistics
🇬🇧 U.K. Labour Force Survey Employment Change in June rose to 24K compared to 19K in May. Source: Office for National Statistics
🇬🇧 U.K. Claimant Count Rate in July rose to 4.7% from 4.4% in June. Source: Office for National Statistics
🇬🇧 In June, the U.K. Average Earnings excluding Bonus (3-mth) decreased to 5.4% from 5.7% in May. Source: Office for National Statistics
🇬🇧 The U.K. ILO Unemployment Rate (3-mth) in June dropped to 4.2%, down from 4.4% in May. Source: Office for National Statistics
🇬🇧 U.K. Claimant Count Change in July rose to 135K from 32.3K in June. Source: Office for National Statistics
🇬🇧 U.K. Average Earnings including Bonus (3-mth) in June dropped to 4.5%, down from 5.7% in May. Source: Office for National Statistics
🇺🇸 The U.S. Monthly Treasury Budget Statement in July dropped to -$244 billion compared to -$66 billion in June. Source: Bureau of the Fiscal Service

Latest from X (Twitter)

Tweets by Office for National Statistics

What can we expect from GBPUSD today?

GBPUSD on Tuesday rose 0.78% to 1.28657. 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 1.29047 with break above could target R2 at 1.29438 or figure level area. While towards the downside, we are looking at daily low of 1.27630 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.28729 may suggest continuation after recent positive movement.

For the week to-date, take note that GBPUSD is bullish as the pair continued to trade higher and is up by 0.9% over the past few days.

Key levels to watch out:

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