GBP/USD Price Forecast: Resistance appears at 1.3300 near nine-day EMA
Trending Articles- Gold Price Forecast: XAU/USD keeps looking for direction above $4,500
- Iran Situation Rekindles Threat of War. Bitcoin Price Decline Accelerates, $75,000 Geopolitical Defense Line Faces Test
- WTI declines below $102.00 after Trump says he called off Iran attacks
- Gold falls below $4,500 on rising global rate hike bets
- Gold holds steady near $4,550 as market eyes Middle East developments
- US President Donald Trump will swear in Kevin Warsh on Friday to lead Fed
GBP/USD may find the initial support at the descending channel’s lower boundary around 1.3180.
The 14-day Relative Strength Index remains below the 50 level, reinforcing the bearish bias.
The initial barrier appears at the nine-day EMA of 1.3332.
The GBP/USD pair moves sideways after registering more than 0.5% gains in the previous day, trading around 1.3280 during the Asian hours on Monday. The bearish bias prevails as the daily chart’s technical analysis suggests that the pair moves downwards within the descending channel pattern.
The 14-day Relative Strength Index (RSI) remains below the 50 level, strengthening the bearish bias. However, the GBP/USD pair is positioned below the nine-day Exponential Moving Average (EMA), suggesting the short-term price momentum is weakening.
On the downside, the GBP/USD pair could find the primary support at the lower boundary of the descending channel around 1.3180, followed by the four-month low of 1.3139, which was recorded on May 12.
The GBP/USD pair may target the immediate barrier at the nine-day EMA of 1.3332, followed by the 50-day EMA at 1.3432. A break above these levels would improve the short- and medium-term price momentum and support the pair to test the descending channel’s upper boundary around 1.3520. Further advances may lead the pair to approach 1.3788, the highest since October 2021, which was recorded on July 1.
GBP/USD: Daily Chart
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Australian Dollar.
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Read more
* The content presented above, whether from a third party or not, is considered as general advice only. This article should not be construed as containing investment advice, investment recommendations, an offer of or solicitation for any transactions in financial instruments.
