GBP/USD Price Analysis: Key Insights
The GBP/USD pair has been on a downward trend for the third consecutive day, trading below the crucial 100-day Simple Moving Average (SMA) at 1.2962. Here are the key insights to consider:
Bearish RSI Signals Further Weakness
- The Relative Strength Index (RSI) shows a bearish trend, indicating the potential for further downside in the GBP/USD pair.
- Key support levels to watch out for are at 1.2910-1.2920 and the 200-day SMA at 1.2799, which could act as significant barriers for the pair’s decline.
Potential Rebound Scenarios
- If the GBP/USD pair manages to rebound, it could retest the 1.3000 level, with next resistance levels at 1.3070 and the 50-day SMA at 1.3138.
- A decisive break above the 1.3000 level could signal a shift in momentum for the pair.
GBP/USD Price Forecast: Technical Outlook
The technical outlook for the GBP/USD pair suggests a bearish sentiment, with the pair trading below the 100-day SMA and the RSI indicating further weakness. Here’s what to watch out for:
- If the pair breaks below 1.2950, the next support levels are at 1.2910-1.2920 and the 200-day SMA at 1.2799.
- On the upside, a rebound could lead to a retest of the 1.3000 level, followed by resistances at 1.3070 and the 50-day SMA at 1.3138.
GBP/USD Price Chart – Daily
British Pound PRICE Today
The table below displays the percentage change of the British Pound (GBP) against major currencies today, highlighting its strength against the Japanese Yen:
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.26% | 0.26% | 1.29% | 0.25% | 0.69% | 0.57% | 0.18% |
The heat map indicates the percentage changes of major currencies against each other, with the British Pound showing strength against the Japanese Yen today.