GBP/USD Price Analysis: 1.2445/50 resistance confluence regains market attention

GBP/USD seesaws near three-day high after the previous day’s notable rise.
The quote keeps an upside break of 61.8% Fibonacci retracement to confront a three-week-old descending trend line.
A confluence of 50% Fibonacci retracement, 21-day EMA and 50-day EMA becomes a tough nut to crack for buyers.
Sellers will wait for entries unless breaking 1.2250.

Anil Panchal FXStreet

GBP/USD bulls catch a breather around the weekly top while trading near 1.2400 amid the early Asian session on Wednesday. The Cable printed heavy gains to cross 61.8% Fibonacci retracement of May-June upside the previous day.

Considering the quote’s sustained break above the key Fibonacci retracement, it becomes capable to overcome the immediate resistance line, at 1.2410 now. However, the 1.2445/50 area comprising 50% Fibonacci retracement and key EMAs will challenge the pair’s further upside.

In a case where the bulls dominate past-1.2445/50, 1.2545 and 1.2690 could offer intermediate halts ahead of fueling the quote towards June month’s top surrounding 1.2815.

Meanwhile, a daily closing below 1.2358, comprising 61.8% of Fibonacci retracement, could divert the sellers towards attacking Monday’s low near 1.2250.

Should the sellers succeed in breaking 1.2250 support, May 22 bottom close to 1.2160 might act as a buffer before dragging the move towards the May 18 low of 1.2075.

GBP/USD daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	1.2398
Today Daily Change	99 pips
Today Daily Change %	0.80%
Today daily open	1.2299

Trends
Daily SMA20	1.2535
Daily SMA50	1.2413
Daily SMA100	1.2478
Daily SMA200	1.2691

Levels
Previous Daily High	1.239
Previous Daily Low	1.2252
Previous Weekly High	1.2543
Previous Weekly Low	1.2314
Previous Monthly High	1.2601
Previous Monthly Low	1.2076
Daily Fibonacci 38.2%	1.2304
Daily Fibonacci 61.8%	1.2337
Daily Pivot Point S1	1.2237
Daily Pivot Point S2	1.2175
Daily Pivot Point S3	1.2099
Daily Pivot Point R1	1.2375
Daily Pivot Point R2	1.2451
Daily Pivot Point R3	1.2513

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.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.