The GBP/USD pair continues its upward momentum, hitting a 5-day high after bouncing off the 50-day moving average at 1.2809. The Relative Strength Index (RSI) indicates strong bullish momentum, with potential for further gains if key resistance levels are breached.
If GBP/USD breaks above 1.3100, the next target is the 2023 peak at 1.3142, with a possibility of reaching 1.3200. On the downside, support levels are seen at 1.3044, 1.3000, and 1.2872.
Technical Analysis and Price Forecast
The GBP/USD pair remains bullish, supported by a positive RSI and recent price action. If the pair continues to rise above 1.3100, it could signal a further uptrend towards 1.3200. However, a pullback below 1.3044 could lead to a retracement towards 1.2872.
GBP/USD Price Action – Daily Chart
British Pound PRICE Today
The table below illustrates the percentage change of the British Pound (GBP) against major currencies today. The GBP showed strength against the Australian Dollar, while other pairs experienced mixed movements.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.21% | -0.46% | 0.46% | -0.16% | -0.20% | 0.02% | -0.12% | -0.40% |
| EUR | 0.21% | -0.26% | 0.26% | 0.03% | 0.00% | 0.26% | 0.08% | -0.19% |
| GBP | 0.46% | 0.26% | 0.32% | 0.29% | 0.49% | 0.35% | 0.09% | |
| JPY | 0.16% | -0.03% | 0.32% | -0.04% | 0.20% | 0.00% | -0.22% | |
| CAD | 0.20% | -0.01% | 0.29% | 0.04% | 0.24% | 0.06% | -0.21% | |
| AUD | 0.02% | -0.26% | 0.49% | -0.20% | -0.24% | -0.18% | -0.41% | |
| NZD | 0.12% | -0.08% | 0.35% | -0.00% | -0.06% | 0.18% | -0.25% | |
| CHF | 0.40% | 0.19% | 0.09% | 0.22% | 0.21% | 0.41% | 0.25% |
Analysis and Conclusion
The GBP/USD pair has shown resilience and strength in the face of disappointing US jobs data, with a clear upward trend in place. Investors should keep an eye on key resistance levels at 1.3100, 1.3142, and 1.3200 for potential breakout opportunities. On the downside, support levels at 1.3044, 1.3000, and 1.2872 could provide buying opportunities in case of a pullback. Overall, the technical outlook for GBP/USD remains positive, with potential for further gains in the near term.