GBP/USD Price Analysis: Again fails to keep 100-day SMA breakout

GBP/USD remains depressed after taking a U-turn from 1.2490.
Two-week-old resistance-turned support could restrict immediate downside.
Bulls will have to cross June 24 top to confirm further advances.

Anil Panchal FXStreet

GBP/USD eases from 1.2490 to currently around 1.2465 during the initial hour of Tokyo open on Thursday. The cable takes a U-turn from one-week-old to defy its previous day’s break of 100-day SMA, which becomes frequent since the mid-June.

As a result, sellers are jostling with a 100-day SMA level around 1.2460 to revisit the falling trend line from June 16, at 1.2400 now.

It should, however, be noted that the pair’s further weakness past-1.2400 will be confined by an upward sloping trend line from May 18 and 38.2% Fibonacci retracement of March-June upside, near 1.2275/70.

Alternatively, a 23.6% Fibonacci retracement level of 1.2485 can offer immediate resistance ahead of 1.2500 and June 24 top near 1.2545.

Given the pair’s ability to cross 1.2545, it can rise towards 1.2690 and the previous month’s top of 1.2813.

GBP/USD daily chart

Trend: Pullback expected

Additional important levels

Overview
Today last price	1.2467
Today Daily Change	-8 pips
Today Daily Change %	-0.06%
Today daily open	1.2475

Trends
Daily SMA20	1.2523
Daily SMA50	1.2418
Daily SMA100	1.2468
Daily SMA200	1.2691

Levels
Previous Daily High	1.249
Previous Daily Low	1.236
Previous Weekly High	1.2543
Previous Weekly Low	1.2314
Previous Monthly High	1.2813
Previous Monthly Low	1.2252
Daily Fibonacci 38.2%	1.244
Daily Fibonacci 61.8%	1.241
Daily Pivot Point S1	1.2393
Daily Pivot Point S2	1.2311
Daily Pivot Point S3	1.2263
Daily Pivot Point R1	1.2524
Daily Pivot Point R2	1.2572
Daily Pivot Point R3	1.2654

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 gathers traction, approaches 1.1800

EUR/USD manages to reverse Tuesday’s pullback, advancing to two-day highs near the 1.1800 hurdle in the latter part of Wednesday’s session. The pair’s decent uptick comes on the back of the modest retracement in the US Dollar, as investors continue to closely follow developments on the trade front and news from the White House in the wake of President Trump’s SOTU speech.

GBP/USD flirts with weekly tops north of 1.3500

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a marginal advance in the Greenback and a generalised improved mood in the risk-associated universe. Meanwhile, the US tariff narrative continues to dictate the mood among market participants.

Gold picks up pace, focus on $5,200

Gold buyers are stepping back in on Wednesday, with sights set on $5,200 and potentially higher, after Tuesday’s pullback from monthly highs. The yellow metal’s recovery follows some loss of momentum in the US Dollar after Trump’s SOTU speech failed to deliver fresh impetus and AI-related jitters continue to fade.

Crypto Today: Bitcoin, Ethereum, XRP test rebound strength as ETF inflows return

Bitcoin, Ethereum and Ripple are gaining traction at the time of writing on Wednesday, amid persistent market doldrums. The Crypto King is up over 2% intraday, trading above $65,000 from the day’s opening of $64,058.

Nvidia remains at the heart of the AI boom

Nvidia remains at the heart of the AI boom, with Q4 revenue projected near $65.6–66.1 billion, nearly 70% higher year-over-year. But investors are watching cash flow, leverage, and broader AI adoption. Growth is strong, but the AI stress isn’t over.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.