GBP/USD Current price: 1.3351

  • Brexit talks continue without news on progress, optimism persists.
  • BOE’s Haskel said that policymakers “have plenty” to do in terms of policy firepower.
  • GBP/USD retains its bullish stance in the near-term, eyes on 1.3410.

The GBP/USD pair has advanced for a third consecutive day as broad optimism, and Brexit hopes continue to underpin the sterling, although it´s ending the day with modest gains. Trade talks between the EU and the UK extended into this week, and while weekend news suggested progress, nothing has been confirmed yet.

BOE’s Jonathan Haskel was on the wires this Tuesday and referred to Brexit and the coronavirus pandemic, indicating that both could affect the central bank’s outlook for 2021. He added that policymakers “have plenty” to do in terms of policy firepower. The UK won’t publish macroeconomic data this Wednesday.

GBP/USD short-term technical outlook

The GBP/USD pair is biased higher, but the bullish momentum is limited by a cautious stance ahead of Brexit clarity. The 4-hour chart shows that the pair has bounced from a bullish 20 SMA, which led the way higher ever since the week started. The larger moving averages are accelerating their advance below the shorter one. Technical indicators remain within positive levels but lack strength enough to confirm an advance coming.

Support levels: 1.3310 1.3265 1.3210  

Resistance levels: 1.3365 1.3410 1.3460

View Live Chart for the GBP/USD

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Analysis feed

FXStreet Trading Signals now available!

Access to real-time signals, community and guidance now!

Latest Analysis

Latest Forex Analysis

Editors’ Picks

EUR/USD rises above 1.21 amid better market mood

EUR/USD has been extending its gains, recapturing 1.21 as the market mood improves. The German ZEW Economic Sentiment beat estimates with 61.8 points. Treasury Secretary nominee Janet Yellen's testimony is awaited.


GBP/USD clings to 1.36 ahead of Yellen's testimony

GBP/USD is edging above 1.36 as markets eagerly Treasury Secretary nominee Janet Yellen's testimony. The UK parliament is set to process the Brexit deal as Britain ramps up its vaccination campaign.


Gold recovers further from multi-week lows, climbs to $1845 region

Gold gained positive traction for the second consecutive session on Tuesday. A modest USD pullback was seen as a key factor that benefitted the metal. The risk-on mood, rallying US bond yields might cap gains for the commodity.

Gold news

Breaking: Ethereum explodes to new yearly high, validating upward price action

Ethereum has ascended to new yearly highs after breaking the recent peak achieved in January. The flagship altcoin is trading at $1,372 amid the push for gains eyeing $1,400. 

Read more

US Dollar Index looks side-lined near 90.70

The greenback, when tracked by the US Dollar Index (DXY), appears to have moved into a consolidative range around the 90.70 level following the closing bell in Asian markets.

US Dollar Index News

Forex Majors