GBP/USD analysis: corrective advance unlikely to extend beyond 1.3000

Valeria Bednarik FXStreet

GBP/USD Current price: 1.2891

Brexit uncertainty to keep the upside limited for the Pound.
Latest GBP/USD recovery a result of dollar's weakness.

The GBP/USD pair recovered on Friday and closed the week little changed to the downside around 1.2890, helped by decreasing demand for the greenback. The Sterling got brief support from better-than-expected Retail Sales released during London trading hours, up by 1.0% MoM and by 4.2% YoY in January. Nevertheless, uncertainty surrounding Brexit maintains the upside limited. In that front, no news is to be reported. UK PM May is determined to leave on March 29, despite unable to reach a consensual deal with MPs, as the EU refuses to change the withdrawal already agreed, while the UK keeps searching for an alternative to the Irish backstop. The UK macroeconomic calendar will kick start Tuesday, with the latest employment updates for the kingdom.

The daily chart shows that, despite the strong bounce, technical indicators have barely rebounded from their daily lows, with the pair now hovering a few pips above the 23.6% retracement of its latest daily slump from 1.3217. In the same chart, the 20 DMA converges with the 50% retracement of the same slide at 1.2990, another barrier toward a firmer recovery past 1.3000. The short-term picture also suggests a limited upward potential as technical indicators lost their upward strength after reaching their midlines, while, despite now above the 20 SMA, the 200 EMA caps the upside at around 1.2910.

Support levels: 1.2840 1.2805 1.2770

Resistance levels: 1.2910 1.2950 1.2990

View Live Chart for the GBP/USD

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold pushes back above $5,000

The daily chart shows spot Gold in a parabolic uptrend that accelerated sharply from the $4,600 area in late January, printing a record high at $5,598.25 before a violent reversal erased nearly $1,000 in value during the final days of the month.

Litecoin eyes $50 as heavy losses weigh on investors

Following a strong downtrend across the crypto market over the past week, Litecoin holders are under immense pressure. The Bitcoin fork has trimmed about $1.81 billion from its market capitalization since the beginning of the year, sending it below the top 20 cryptos by market cap.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.