The GBP/USD pair strengthened to around 1.3290 during the early European session on Monday (05/05). The US dollar (USD) weakened against the British pound (GBP) amid rising economic uncertainties following US President Donald Trump's erratic trade policies.
According to the daily chart, the bullish outlook for GBP/USD remains intact, as the price is holding above the key 100-day Exponential Moving Average (EMA). The upside momentum is supported by the 14-day Relative Strength Index (RSI), which is above the midline near 55.60, indicating the path of least resistance is to the upside.
The immediate resistance level comes in at 1.3445, the high on April 28. A sustained rise could lead to a rally to 1.3580, the upper boundary of the Bollinger Band. Further north, the next hurdle lies at 1.3642, the high on February 18, 2022.
On the other hand, the April 23 low of 1.3234 acts as an initial support level for the major. The key resistance level to watch is the psychological 1.3000 level. Additional downside filters are seen at 1.2905, the 100-day EMA, followed by 1.2870, the lower boundary of the Bollinger Band.(Newsmaker23)
Source: FXstreet
The Pound Sterling (GBP) demonstrates stability against its major peers on Tuesday, with investors awaiting preliminary United Kingdom (UK) S&P Global Purchasing Managers' Index (PMI) data for Jul...
The Pound Sterling (GBP) starts the week on a slightly positive note. The British currency ticks up as market experts have pared bets supporting a higher number of interest rate cuts by the Bank of En...
The GBP/USD pair kicks off the new week on a subdued note and oscillates in a narrow band, just above the 1.3400 round figure during the Asian session. Meanwhile, spot prices remain well within striki...
GBP/USD gains ground after registering small losses in the previous session, trading around 1.3440 during the Asian hours on Friday. The pair appreciates as the US Dollar (USD) edges lower due to dovi...
The pound (GBP) attracted buying interest against other major currencies on Wednesday (July 16th) following the release of higher-than-expected UK Consumer Price Index (CPI) data for June. The Office...
Foreign investors are increasingly uneasy about U.S. monetary policy after President Donald Trump's public criticism of Federal Reserve Chair Jerome Powell, according to Yardeni Research. Though Trump recently said it was "highly unlikely" he...
U.S. Treasury Secretary Scott Bessent said on Tuesday that he will meet his Chinese counterpart next week and discuss what is likely to be an extension of an August 12 deadline for higher tariffs. Bessent told Fox Business that trade with China...
The Pound Sterling (GBP) demonstrates stability against its major peers on Tuesday, with investors awaiting preliminary United Kingdom (UK) S&P Global Purchasing Managers' Index (PMI) data for July, scheduled for release on Thursday. Investors...
Asia-Pacific markets traded mixed Monday, as investors keep a close watch on the People's Bank of China's decision on its 1-year and 5-year loan...
European stocks opened the week on a cautious note, with both the STOXX 50 and STOXX 600 hovering near the flatline as investors closely monitor...
European stocks posted slight declines on Monday (July 21st) as markets continued to assess the trade outlook in the European Union. The Eurozone...
The US has signaled it will not relax its August 1 deadline for higher tariffs against the European Union as the bloc struggles to reach a deal on...