GBP/USD Price Analysis: Bounces off monthly support to defend 1.3800

  • GBP/USD consolidates the previous day’s losses, picks up bids of late.
  • Sluggish MACD challenges recovery moves inside short-term rising channel.
  • 200-SMA adds to the upside filters, channel support will be crucial for bears.

GBP/USD pokes intraday high of 1.3835, up 0.05% intraday during the subdued Asian session on Friday.

In doing so, the cable pair pares Thursday’s losses following its bounce off a two-week-old horizontal support zone surrounding the 1.3800 threshold.

Even so, MACD conditions aren’t favorable to the pair’s further upside, which in turn suggests fresh pullback from nearby resistances, namely 1.3875-80 and the 1.3900 round figure.

Should the quote fails to reverse from 1.3900, the upper line of an ascending trend channel from June 30 near 1.3920 and 200-SMA level close to 1.3955 become the key hurdles to watch.

Meanwhile, a downside break of the 1.3800 nearby support will direct GBP/USD sellers to attack the channel’s support close to 1.3780.

It’s worth noting that the pair’s sustained break of 1.3780 will confirm the bearish trajectory towards the lows marked during March and April surrounding 1.3670. During the fall, the monthly bottom of 1.3731 may test the pair bears.

GBP/USD: Four-hour chart

Trend: Tepid recovery expected 

Additional important levels

Today last price 1.3834
Today Daily Change 0.0006
Today Daily Change % 0.04%
Today daily open 1.3828
Daily SMA20 1.3856
Daily SMA50 1.4016
Daily SMA100 1.3937
Daily SMA200 1.3692
Previous Daily High 1.3899
Previous Daily Low 1.3805
Previous Weekly High 1.3908
Previous Weekly Low 1.3742
Previous Monthly High 1.4249
Previous Monthly Low 1.3787
Daily Fibonacci 38.2% 1.3841
Daily Fibonacci 61.8% 1.3863
Daily Pivot Point S1 1.3789
Daily Pivot Point S2 1.375
Daily Pivot Point S3 1.3695
Daily Pivot Point R1 1.3883
Daily Pivot Point R2 1.3938
Daily Pivot Point R3 1.3977



Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Feed news

Latest Forex News

Latest Forex News

Editors’ Picks

EUR/USD drops below 1.1300 for the first time in two weeks

EUR/USD remains under bearish pressure in the American session on Monday and trades at its lowest level in two weeks slightly below 1.1300. US Markit Manufacturing and Services PMIs missed market expectations by a wide margin in early January. The S&P 500 Index is down nearly 2% after the opening bell.


GBP/USD extends daily slide toward 1.3450

GBP/USD continues to stretch lower toward mid-1.3400s on Monday as the mood continues to sour. Wall Street's main indexes are down between 1.7% and 2.1% after the disappointing PMI data from the US.


Gold declines toward $1,830 despite falling US bond yields

Gold climbed above $1,840 during the European trading hours but erased its daily gains to turn flat on the day at around $1,830. The benchmark 10-year US T-bond yield is down more than 2% on Monday as safe-haven flows continue to dominate the financial markets. 

Gold News

Crypto carnage continues to unfold

Bitcoin price has witnessed a massive crash over the past week, undoing the gains seen since July 25. Ethereum, Ripple and other altcoins have followed suit, experiencing an even worse crash. 

Read more

Nvidia extends losses after Bitcoin’s overnight flash crash

NVDA investors are getting used to seeing the colour red after a year in 2021 when all they saw was green. On Friday, shares of NVDA fell by 3.21% and closed the final trading day of the week at $223.74.

Read more