GBPUSD Analysis: Support at 1.3490/1.3450, resistance at 1.3570/1.3615 [Video]
![GBPUSD Analysis: Support at 1.3490/1.3450, resistance at 1.3570/1.3615 [Video]](https://editorial.fxstreet.com/images/TechnicalAnalysis/SupportResistance/defocued-background-for-crowded-people-shopping-in-mall-gm537244827-57787244_XtraLarge.jpg)
What is the outlook for Cable?
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Richard Perry
Independent Analyst
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The EUR/USD pair remains on the back foot through the Asian session on Friday and currently trades just above mid-1.1700s, well within striking distance of a nearly one-month low set the previous day.
GBP/USD is recovering ground above 1.3450 in European trading on Friday, helped by a modest uptick in the Pound Sterling after a bigger-than-expected increase in the UK Retail Sales for January. However, the further upside appears limited in the pair amid persistent US Dollar strength and ahead of key UK and US data.
Gold sticks to recent gains around the $5,000-mark early Friday, biding time before the high-impact US macro events. The focus is now on the US fourth-quarter Gross Domestic Product, core Personal Consumption Expenditures Price Index and the Supreme Court’s ruling on President Donald Trump’s tariffs.
Bitcoin, Ethereum, and Ripple are trading sideways within consolidation ranges on Friday, signaling a lack of directional bias in the broader crypto market. BTC rebounded from key support, and ETH is nearing the lower consolidation boundary, while XRP is holding at its lower trendline boundary.
It was green across the board for US Stock market indexes at the close on Wednesday, with most S&P 500 names ending higher, adding 38 points (0.6%) to 6,881 overall. At the GICS sector level, energy led gains, followed by technology and consumer discretionary, while utilities and real estate posted the largest losses.
Official Trump (TRUMP) is trading at $3.50 at the time of writing, approaching its upper consolidation range. A breakout from this range could open the door for an upside move. On-chain data shows market indecision, with balanced flows between bulls and bears, signaling a lack of clear directional bias.
