GBP/USD fails to recover 1.4200, holds onto important daily gains

  • Cable rebounds further, finds resistance at the 1.4200 area.
  • Pound also faces resistance against the euro and losses momentum.

The GBP/USD rose further during the American session and peaked at 1.4200. Like Thursday, it was unable to break the 1.4200 area and pulled back. The retracement found support at 1.4165 and the pair is about to end the week flat hovering around 1.4160/70.

The pound recovered sharply after falling before the NFP to 1.4082, the lowest level in almost three weeks. From the lows it bounced to the upside, boosted by the decline of the US dollar after the US employment report that came in below expectations.

Also the pound lost some momentum after the EUR/GBP moved off lows, rising again back above a key support level. A close clearly below 0.8560/70 could trigger more losses in the cross, adding strength to the pound.

GBP/USD Technical outlook

The pound is about to end the week practically unchanged against the US dollar after being unable to hold above 1.4200 while at the same time rebounding sharply from below 1.4100. Yohay Elam, Analyst at FXStreet, points out the daily chart in GBP/USD still points to an uptrend, “at least as long as cable holds above the 1.4010 line that is a clear separator of ranges. In the meantime, momentum remains to the upside and the currency pair is trading well above the 50 day, 100-day and 200-day simple moving averages, a bullish sign.”

On the downside, Elam points out that soft support awaits at 1.4050, “ahead of critical support at 1.4010 mentioned earlier. Further down, 1.3980, 1.3930 and 1.3850 come into play.”

Technical levels


Today last price 1.4173
Today Daily Change 0.0066
Today Daily Change % 0.47
Today daily open 1.4107
Daily SMA20 1.4135
Daily SMA50 1.3958
Daily SMA100 1.3894
Daily SMA200 1.3548
Previous Daily High 1.4203
Previous Daily Low 1.4087
Previous Weekly High 1.4219
Previous Weekly Low 1.4092
Previous Monthly High 1.4234
Previous Monthly Low 1.3801
Daily Fibonacci 38.2% 1.4131
Daily Fibonacci 61.8% 1.4159
Daily Pivot Point S1 1.4061
Daily Pivot Point S2 1.4016
Daily Pivot Point S3 1.3945
Daily Pivot Point R1 1.4178
Daily Pivot Point R2 1.4248
Daily Pivot Point R3 1.4294



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. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD clings to modest daily gains near 1.1350 after US data

EUR/USD stays afloat in the positive territory near 1.1350 in the early American session as the greenback struggles to gather strength on retreating US T-bond yields. The data from the US revealed that Housing Starts and Building Permits rose by 1.4% and 9.1% on a yearly basis in December, respectively.


GBP/USD holds its ground in the positive territory above 1.3600

GBP/USD holds above 1.3600 in the second half of the day on Wednesday supported by the modest selling pressure surrounding the dollar. The benchmark 10-year US Treasury bond yield stays in the red in the early American session and the US Dollar Index edges lower toward 95.50.


Gold: Bullish breakout exposes November monthly high at 1,877.15

Spot gold trades above $1,840 a troy ounce, at levels last seen in November 2021. The bright metal soared through the American session amid persistent concerns about inflation and volatile US government bond yields. 

Gold News

Shiba Inu price has a good chance to surge to $0.000040

A brief technical and on-chain analysis on Shiba Inu price. FXStreet's analysts evaluate why SHIB could advance further. 

Read more

Microsoft bets big on Metaverse with $69bln deal for Activision Blizzard

The move will give the tech giant access to Activision’s 390 million monthly users and headline franchises such as Call of Duty, Warcraft and Candy Crush. Find out why Microsoft has made this move.

Read more