|

GBP/USD looks firm and retargets 1.3200 and beyond

GBP/USD revisits the 1.3200 area at the beginning of the week.

The move higher in Cable is fuelled by further weakness in the US Dollar.

Trump’s tariffs remain front and centre of the FX universe.

In quite a positive start to the new trading week, the British pound managed to extend its bullish momentum, sending GBP/USD to multi-day peaks around the 1.3200 neighbourhood.

GBP/USD up on USD-selling, looks at tariffs

Indeed, Cable clinches its fifth daily advance in a row bolstered by the continuation of the downward trend in the Greenback, which comes in tandem with declining US yields across the curve, while the 10-year gilt yields also head southwards.

The generalised improved sentimentin the risk-associated space comes in response to somewhat alleviated jitters on the tariffs scenario, particulalry after President Trump said over the weekend that smartphones and computers will be temporarily exempted from the recently announced tariffs on Chinese imports.

Levels to watch

Currently, a move above the 2025 peak at 1.3207 (April 3), should expose a potential visiti to the 2024 top at 1.3434 (September 26).

On the downside, initial support comes at the always-relevant the 200-day SMA at 1.2817 prior to the April trough at 1.2707 (April 7) and the interim 100-day SMA at 1.2643.

In terms of momentum indicators, the Relative Strength Index (RSI) indicates a solid bullish stance near 65, while the Average Directional Index (ADX) around 27 suggest a moderated strength of the trend.

Author

Pablo Piovano

Born and bred in Argentina, Pablo has been carrying on with his passion for FX markets and trading since his first college years.

More from Pablo Piovano
Share:

Markets move fast. We move first.

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

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD posts modest gains above 1.1700 as ECB signals pause

The EUR/USD pair posts modest gains around 1.1710 during the early Asian session on Monday. The Euro strengthens against the Greenback after the European Central Bank left its policy rates unchanged and took a more positive view on the Eurozone economy, which has shown resilience to global trade shocks. Financial markets are likely to remain subdued as traders book profits ahead of the long holiday period.

GBP/USD gains ground near 1.3400 ahead of UK Q3 GDP data

GBP/USD gains ground after three days of losses, trading around 1.3390 during the Asian hours on Monday. The pair depreciates as the Pound Sterling holds ground ahead of the release of the United Kingdom Gross Domestic Product for the third quarter.

Gold sits at record high near $4,400 amid renewed geopolitical woes

Gold is sitting near $4,400 early Monday, renewing lifetime highs, helped by renewed geopolitical tensions. Israel-Iran conflict and US-Venezuela headlines drive investors toward the traditional store of value, Gold. 

Top Crypto Gainers: Audiera, Midnight, MemeCore sustain weekend gains

Audiera, Midnight, and MemeCore recorded double-digit gains on Sunday and remain top performers over the last 24 hours. Audiera extends the rally while Midnight takes a breather, and MemeCore struggles at a crucial moving average. 

De-dollarisation by design: Gold’s partner in the new system

You don’t need another 2008 for the system to reset. You just need enough nations to stop settling trade in dollars. And that’s already happening. "If gold is the anchor, what actually moves value in a post-dollar world?” It’s a question most gold investors overlook. We think in terms of storage and preservation, but in the new rails being built, settlement speed matters just as much as soundness of money.

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.