GBP/USD Price Analysis: Bears brace for 200-SMA retest

GBP/USD remains sidelined after breaking two-week-old rising channel.
Two-day-old double-top formation guards immediate upside, channel’s resistance line acts as extra hurdle to the north.
Descending Momentum line also strengths bearish hopes towards monthly low.

Anil Panchal FXStreet

GBP/USD begins the trading week on lower ground near 1.3900. The cable pair broke a short-term rising channel during the late Friday and teased bears amid a downward sloping Momentum line.

The selling currently aims to retest the 200-SMA support near 1.3835, a break of which could highlight the 1.3770 area comprising multiple levels marked last week.

In a case where GBP/USD bears keep reins below 1.3770, the early July’s low near 1.3730 may offer an intermediate halt during the fall to the previous month’s bottom surrounding 1.3570.

Meanwhile, recovery moves need to stabilize beyond 1.3910 to reject short-term bearish bias.

However, any further upside will be tested by highs marked on Thursday and Friday near 1.3985 and the 1.4000 threshold.

It should be noted that the upper line of the stated channel surrounding 1.4040 also acts as a challenge for GBP/USD buyers.

GBP/USD: Four-hour chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	1.3901
Today Daily Change	-0.0002
Today Daily Change %	-0.01%
Today daily open	1.3903

Trends
Daily SMA20	1.3814
Daily SMA50	1.3947
Daily SMA100	1.3924
Daily SMA200	1.3735

Levels
Previous Daily High	1.3984
Previous Daily Low	1.3888
Previous Weekly High	1.3984
Previous Weekly Low	1.3737
Previous Monthly High	1.3984
Previous Monthly Low	1.3572
Daily Fibonacci 38.2%	1.3925
Daily Fibonacci 61.8%	1.3947
Daily Pivot Point S1	1.3866
Daily Pivot Point S2	1.3829
Daily Pivot Point S3	1.3771
Daily Pivot Point R1	1.3961
Daily Pivot Point R2	1.402
Daily Pivot Point R3	1.4057

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.