The Latest on GBP/USD Trading
- GBP/USD trades below 1.3350 in the European session on Tuesday.
- The near-term technical outlook points to a bearish tilt.
- US economic calendar will feature ISM Manufacturing PMI and JOLTS Job Openings data.
GBP/USD remains under bearish pressure early Tuesday, staying in negative territory below 1.3350 after a failed attempt to stabilize above 1.3400 on Monday. The pair’s technical outlook indicates a bearish tilt in the near term.
British Pound Price Today
The table below shows the percentage change of the British Pound (GBP) against major currencies today. The British Pound was the weakest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.26% | 0.32% | 0.13% | 0.08% | 0.03% | 0.42% | 0.09% |
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.
GBP/USD rose above 1.3400 during European trading hours on Monday but failed to sustain bullish momentum. Today, GBP/USD continues to trend lower as the US Dollar extends its recovery.
GBP/USD Technical Analysis
GBP/USD dropped below the lower limit of the ascending regression channel from September 11, with the RSI indicator on the 4-hour chart reflecting a bearish shift in the short-term outlook. Key support levels include 1.3300, 1.3275, and 1.3240-1.3230, while resistance levels are at 1.3350, 1.3400, and 1.3440.
Pound Sterling FAQs
Here are some frequently asked questions about the Pound Sterling:
The Pound Sterling (GBP) is the oldest currency in the world, dating back to 886 AD. It is the official currency of the United Kingdom and accounts for 12% of all foreign exchange transactions, with key trading pairs such as GBP/USD and GBP/JPY.
Analysis:
The GBP/USD pair’s trading behavior indicates a bearish trend in the near term, with the Pound Sterling weakening against the US Dollar. This can be attributed to factors such as cautious market sentiment and a stronger USD.
Technical analysis shows key support and resistance levels for GBP/USD, providing insights for traders and investors looking to navigate the currency pair’s movements.
Understanding the impact of economic data releases on currency values, such as the upcoming ISM Manufacturing PMI and JOLTS Job Openings data, is crucial for making informed trading decisions.
Overall, staying informed about market trends, technical indicators, and economic events is essential for anyone interested in currency trading and financial markets.