GBP/USD Price Analysis: 100-HMA defends buyers around mid-1.1500s

GBP/USD remains on the front foot on a day despite the latest pullback.
Firmer RSI, bullish MACD signals join upside break of weekly resistance line to favor buyers.
Sellers have a bumpy road to travel before visiting March 2020 low.

Anil Panchal FXStreet

GBP/USD remains on the buyer’s radar even after paring the daily gains around 1.1565 during early Tuesday morning in Europe. That said, the 100-HMA defends the cable pair buyers amid firmer RSI and bullish MACD signals.

Also keeping the GBP/USD bulls hopeful is the sustained trading beyond a downward sloping resistance line from June 30, now support around 1.1510.

It should be noted that an upward sloping support line from the previous day, near 1.1545, precedes the 1.1500 threshold to also challenge the GBP/USD sellers.

In a case where the Cable pair drops below 1.1500, the latest trough and the March 2020 bottom, respectively near 1.1445 and 1.1410, will be in focus.

Alternatively, the GBP/USD pair’s recovery moves could aim for the 200-HMA level near 1.1655.

Following that, the 1.1700 round figure and the August-end swing high at 1.1760 could lure the GBP/USD bulls.

It should be noted that July’s low also strengthens the 1.1760 hurdle, a break of which could give control to the bull’s hands.

GBP/USD: Hourly chart

Trend: Further recovery expected

Additional important levels

Overview
Today last price	1.1567
Today Daily Change	0.0050
Today Daily Change %	0.43%
Today daily open	1.1517

Trends
Daily SMA20	1.1856
Daily SMA50	1.1969
Daily SMA100	1.2218
Daily SMA200	1.2782

Levels
Previous Daily High	1.1522
Previous Daily Low	1.1444
Previous Weekly High	1.1761
Previous Weekly Low	1.1496
Previous Monthly High	1.2294
Previous Monthly Low	1.1599
Daily Fibonacci 38.2%	1.1492
Daily Fibonacci 61.8%	1.1474
Daily Pivot Point S1	1.1466
Daily Pivot Point S2	1.1416
Daily Pivot Point S3	1.1388
Daily Pivot Point R1	1.1545
Daily Pivot Point R2	1.1573
Daily Pivot Point R3	1.1623

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

GBP/USD holds recovery gains near 1.3400 despite soft UK CPI data

GBP/USD clings to recovery gains near 1.3400 in European trading on Wednesday. The UK annual Consumer Price Index (CPI) inflation cooled to 2.6% in June against the market forecast of 2.7%, failing to deter the British Pound's rebound from weekly troughs. However, the pair's further upside could be limited by ongoing Mideast tensions and sustained US Dollar demand as a haven.

EUR/USD gains ground above 1.1400 on hawkish ECB tone

The EUR/USD pair holds positive ground near 1.1410 during the early European trading hours, bolstered by a hawkish tone from the European Central Bank. However, the potential upside for the major pair might be limited amid escalating military tensions and recent retaliatory airstrikes between the US and Iran.

Gold ease from two-week top as energy-driven inflation fears bolster Fed hike bets

Gold retreats slightly from a two-week high touched earlier this Wednesday, albeit it retains an intraday bullish bias through the first half of the European session. Hopes that US-Iran diplomacy could ease energy prices and temper hawkish US Federal Reserve expectations undermine the US Dollar, which is seen supporting the commodity. In fact, top negotiators for Iran and the US signaled that they have not walked away from talks.

Cardano: Short-term recovery lacks retail support

Cardano price edges lower after the 50-day Exponential Moving Average at $1.770 capped two consecutive days of recovery seen earlier this week. ADA futures point to waning retail traction as Open Interest and trading volume decline amid elevated long liquidations. The technical outlook for ADA is bearish, as momentum remains subdued below a resistance trendline near $0.1782.

Chip stocks are more volatile than Oil

I continue to start the day by looking at these two charts: US crude & Kospi. The former is extending gains, trading above $86 per barrel for WTI and $92 per barrel for Brent, while the Kospi is up more than 4.5%, led higher by Korean chipmakers following a similar jump in VanEck's Semiconductor ETF yesterday.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.