GBP/USD continues to show strength above 1.3150 in the European session, signaling a bullish outlook in the near term. With the US economic docket featuring the release of the ADP Employment Change data for August, investors are eagerly watching for potential market movements.
British Pound PRICE This week
The table below illustrates the percentage change of the British Pound (GBP) against major currencies this week. The Pound showed strength against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.44% | -0.28% | -1.81% | 0.15% | 0.58% | 0.67% | -0.39% |
The heat map represents the percentage changes of major currencies against each other. The base currency is on the left column, while the quote currency is on the top row.
The weakening US Dollar (USD) has supported GBP/USD’s upward movement in recent trading sessions. However, the release of the JOLTS Job Openings data by the US Bureau of Labor Statistics, showing a decline to 7.67 million in July, had a mixed impact on the USD’s performance.
Looking ahead, the focus is on the ADP Employment Change report for August, expected to show a creation of 145,000 jobs. A better-than-expected figure could boost the USD and limit GBP/USD’s gains, while a softer reading might lead to further appreciation of the pair.
Technical Analysis and Trading Opportunities
The Relative Strength Index (RSI) on the 4-hour chart indicates a bullish momentum for GBP/USD, with key resistance levels at 1.3200 and 1.3260. On the downside, support levels are at 1.3130 and 1.3100.
Pound Sterling FAQs
Stay informed about the latest trends in the GBP/USD market to make well-informed trading decisions and maximize your investment opportunities.