GBP/USD clings to recovery gains, around mid-1.4000s

Haresh Menghani FXStreet

• A modest USD weakness helps gain some positive traction.
• The up-move lacked strong conviction amid a subdued trading action.
• Investors look forward to next week’s macro releases for fresh impetus.

The GBP/USD pair extended its steady climb on Friday and is currently placed at the top end of its daily trading range, around mid-1.4000s.

The pair snapped three consecutive days of losing streak and gained some positive traction from closer to the key 1.40 psychological mark. A modest US Dollar weakness, amid a subdued/range-bound trading session, was seen as one of the key factors driving the pair higher.

Apart from a weaker tone surrounding the greenback, the up-move lacked any obvious fundamental trigger and thus, seemed struggling to gain any follow-through traction.

Investors now look forward to next week's important macro releases, scheduled at the start of a new month and which would help determine the pair's next leg of directional move.

Technical levels to watch

Immediate resistance is pegged near 1.4075 level, above which the pair is likely to aim towards surpassing the 1.4100 handle and head towards testing the 1.4135-40 supply zone. On the flip side, the 1.4020 area now seems to protect the immediate downside, which if broken might prompt some fresh selling and continue dragging the pair towards 1.3965-60 horizontal support.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

GBP/USD hovers around daily lows near 1.3450

GBP/USD trades with decent losses on Thursday, revisiting the 1.3450 zone. Cable’s resumption of the selling interest comes after two daily advances in a row and follows the improved sentiment around the Greenback amid fresh concerns in the Middle East.

EUR/USD slips back to two-day lows near 1.1510

EUR/USD faces some renewed downside pressure and retests the low 1.1500s in the latter part of Thursday’s NA session. The move lower in spot comes after two daily advances in a row and follows the fresh bid bias in the US Dollar amid the re-emergence of some effervescence in the Middle East. Moving forward, US NFP data will take centre stage on Friday.

How Wall Street rigs the game [Video]

In this week’s Live from the Vault, Andrew Maguire is joined by Peter Antico and Sean Stone to discuss the Paradigm of Money - an in-depth expose of financial market corruption, from naked shorting to the two-tier system that protects Wall Street.

Ethereum Price Forecast: Whales absorb retail distribution as bear market nears late stage

Ethereum (ETH) large holders have been accumulating the supply of retail investors in 2026. In a report released late Wednesday, CryptoQuant analysts highlighted that the supply of the 1K-10K ETH cohort has fallen from 15.6 million ETH in January to roughly 12.9 million ETH.

Markets question Fed's inflation resolve after July FOMC meeting

Federal Reserve Chairman Kevin Warsh continues to project a tough stance on inflation, repeatedly promising to restore price stability and keep inflation anchored at the central bank's longstanding 2% target. But according to Mike Maharrey in this week's Money Metals Midweek Memo, markets are beginning to judge the Fed by its actions rather than its rhetoric—and so far, they aren't convinced.

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.