TRENDING:

GBP/USD

XAU/USD

GBP/USD battles with SMAs within sideways channel [Video]

GBP/USD continues its consolidating move.
Medium-term uptrend line acts as strong support.

Melina Deltas, CFTe XM

GBP/USD is still holding near the mid-level of the medium-term trading range of 1.2520-1.2785. The pair is battling with the 50-day simple moving average (SMA) at 1.2673 again, with the technical oscillators suggesting weak momentum on price. The MACD is flattening near its trigger and zero lines, while the RSI is pointing slightly down, trying to cross below the 50 level.

In the case of more notable gains, the pair may manage to hit the upper boundary of the consolidation area at 1.2785 ahead of the five-month peak of 1.2825. Steeper increases could drive the market towards the 1.3000 psychological mark.

On the other hand, some critical levels are waiting the price for a turning move from the price such as the 20- and the 200-day SMAs at 1.2630 and 1.2575 around the longer-term uptrend line. Beneath these lines, the 1.2495-1.2520 support region may halt bearish actions before resting near 1.2370 bar.

All in all, GBP/USD has been lacking clear direction over the last three months, but a closing day below the supportive trend line would change the outlook to negative.

Author

Melina Deltas, CFTe

Melina joined XM in December 2017 as an Investment Analyst in the Research department. She can clearly communicate market action, particularly technical and chart pattern setups.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD rebounds after falling toward 1.1700

EUR/USD gains traction and trades above 1.1730 in the American session, looking to end the week virtually unchanged. The bullish opening in Wall Street makes it difficult for the US Dollar to preserve its recovery momentum and helps the pair rebound heading into the weekend.

GBP/USD steadies below 1.3400 as traders assess BoE policy outlook

Following Thursday's volatile session, GBP/USD moves sideways below 1.3400 on Friday. Investors reassess the Bank of England's policy oıtlook after the MPC decided to cut the interest rate by 25 bps by a slim margin. Meanwhile, the improving risk mood helps the pair hold its ground.

Gold stays below $4,350, looks to post small weekly gains

Gold struggles to gather recovery momentum and stays below $4,350 in the second half of the day on Friday, as the benchmark 10-year US Treasury bond yield edges higher. Nevertheless, the precious metal remains on track to end the week with modest gains as markets gear up for the holiday season.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid bearish market conditions

Bitcoin (BTC) is edging higher, trading above $88,000 at the time of writing on Monday. Altcoins, including Ethereum (ETH) and Ripple (XRP), are following in BTC’s footsteps, experiencing relief rebounds following a volatile week.

How much can one month of soft inflation change the Fed’s mind?

One month of softer inflation data is rarely enough to shift Federal Reserve policy on its own, but in a market highly sensitive to every data point, even a single reading can reshape expectations. November’s inflation report offered a welcome sign of cooling price pressures.

XRP rebounds amid ETF inflows and declining retail demand demand

XRP rebounds as bulls target a short-term breakout above $2.00 on Friday. XRP ETFs record the highest inflow since December 8, signaling growing institutional appetite.

Legal Text

Markets move fast. We move first.

Editor's Picks

Best Brokers in 2025