GBP/USD Price Forecast: Stumbles below 1.2900 on risk-off mood

Source Fxstreet
  • GBP/USD tilts downward; key support at 1.2833 could open path to 200-day SMA at 1.2816.
  • Break below major support may shift bias bearish, targeting August low of 1.2664.
  • Buyers need a close above 100-day SMA at 1.2992 to regain momentum toward 1.3099.

The Pound Sterling begins the week on the back foot, tumbling over 0.30% against the Greenback amid fears that US President-Elect Donald Trump might impose tariffs, deteriorated risk appetite. Hence, the risk-sensitive GBP/USD pair fell below the 1.2900 figure, trading at 1.2876.

GBP/USD Price Forecast: Technical outlook

From a technical perspective, the GBP/USD remains consolidated but slightly tilted to the downside. However, sellers must clear the November 6 swing low of 1.2833 to challenge the 200-day Simple Moving Average (SMA) at 1.2816. If those two support levels are cleared, the bias will shift bearish, and the pair can challenge major support at the August 9 daily low of 1.2664.

Conversely, GBP buyers need to lift the major above the 100-day SMA at 1.2992, shy of 1.30. Once surpassed, that could pave the way to testing the 50-day SMA at 1.3099.

Momentum remains bearishly biased as seen by the Relative Strength Index (RSI). Still it consolidated at around familiar levels, hinting that sellers are not fully in charge.

GBP/USD Price Chart – Daily

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Japanese Yen.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   0.62% 0.35% 0.68% 0.27% 0.11% -0.02% 0.39%
EUR -0.62%   -0.29% 0.15% -0.24% -0.42% -0.54% -0.15%
GBP -0.35% 0.29%   0.36% 0.06% -0.13% -0.25% 0.15%
JPY -0.68% -0.15% -0.36%   -0.41% -0.64% -0.60% -0.28%
CAD -0.27% 0.24% -0.06% 0.41%   -0.12% -0.30% 0.09%
AUD -0.11% 0.42% 0.13% 0.64% 0.12%   -0.15% 0.27%
NZD 0.02% 0.54% 0.25% 0.60% 0.30% 0.15%   0.39%
CHF -0.39% 0.15% -0.15% 0.28% -0.09% -0.27% -0.39%  

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).

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
When is the US President Trump’s speech at WEF in Davos and how could it affect EUR/USDUnited States (US) President Donald Trump is scheduled to deliver his speech at the World Economic Forum (WEF) in Davos after 13:00 GMT. Trump’s trip to Davos was delayed after Air Force One was forced to turn around due to a "minor electrical issue".
Author  FXStreet
10 hours ago
United States (US) President Donald Trump is scheduled to deliver his speech at the World Economic Forum (WEF) in Davos after 13:00 GMT. Trump’s trip to Davos was delayed after Air Force One was forced to turn around due to a "minor electrical issue".
placeholder
Greenland Storm Hits. US Stocks Erase Over $1 Trillion in a Single Day, Bitcoin Drops Below $90,000 MarkGreenland tariff war escalates, hitting US stocks and crypto markets hard, but Fundstrat expects a year-end recovery.On Wednesday (January 21), hit by the Greenland tariffs, the crypto ma
Author  TradingKey
10 hours ago
Greenland tariff war escalates, hitting US stocks and crypto markets hard, but Fundstrat expects a year-end recovery.On Wednesday (January 21), hit by the Greenland tariffs, the crypto ma
placeholder
Ethereum slides below $3,000 as sellers defend $3,020 and $2,880 becomes the key lineEthereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
Author  Mitrade
17 hours ago
Ethereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
placeholder
Bitcoin Trader Maintains $100K Target as Gold Prices Hit Record $4,750Bitcoin circumvented significant losses as U.S. markets opened reacting to EU trade-war concerns, holding onto critical $90,000 support.
Author  Mitrade
19 hours ago
Bitcoin circumvented significant losses as U.S. markets opened reacting to EU trade-war concerns, holding onto critical $90,000 support.
placeholder
US-Europe Trade War Reignites, Bitcoin’s $90,000 Level at RiskAs the US-EU tariff war reignites, Bitcoin prices are weakening and may briefly fall below the $90,000 mark.Over the past 24 hours, Bitcoin ( BTC) prices have dropped to $92,000 twice, an
Author  TradingKey
Yesterday 10: 57
As the US-EU tariff war reignites, Bitcoin prices are weakening and may briefly fall below the $90,000 mark.Over the past 24 hours, Bitcoin ( BTC) prices have dropped to $92,000 twice, an
Related Instrument
goTop
quote