GBPUSD on Wednesday rose 0.45% to 1.30930. How it happened.

GBPUSD Analysis

Performance after Wednesday
Period	Pct	Chg	Momentum
Wednesday	0.45%	58.6 Pips
Week to-date	1.13%	145.8 Pips
August	1.86%	239.3 Pips

Upcoming key events (London Time)

Thu 03:00 PM USD Jackson Hole Symposium
Fri 03:00 PM USD Federal Reserve Chair Jerome Powell speech (Jackson Hole Symposium)
Fri 08:00 PM GBP Bank of England Governor Andrew Bailey speech

What happened lately

No major activities.

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What can we expect from GBPUSD today?

GBPUSD on Wednesday rose 0.45% to 1.30930. Price is above 9-Day EMA while Stochastic is rising in overbought zone.

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

Looking ahead for the day, immediate upside resistance level is R1 at 1.31381 with break above could target R2 at 1.31833 or figure level area. While towards the downside, we are looking at daily low of 1.30104 as an important support. Break below this level could weaken the current bullish momentum. A break above 1.31194 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 1.13% over the past few days.

Key levels to watch out:

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