GBP/USD Price Analysis: Buyers defends 1.3750 below 100-day SMA

GBP/USD edges higher on the first trading day of the week in the Asian trading hours.
The pair faces strong resistance near 1.3850 below the bearish sloping line.
MACD signals sideways momentum with the underlying neutral sentiment.

Rekha Chauhan Independent Analyst

GBP/USD trades cautiously on Monday following the previous session's decline. The pair stayed in a narrow range band with an upside bias. At the time of writing, GBP/USD is trading at 1.3763,up 0.08% for the day.

GBP/USD daily chart

On the daily chart, the GBP/USD pair has been in the continuous downward trend since the high made on July 30 at 1.3983. The descending trendline from the mentioned level acts as a strong barrier for GBP/USD. Further, the spot trades below the 100-day Simple Moving Average (SMA) at 1.3792, which strengthen the current downside momentum.

If the pair sustains the intraday high it could go back to test the psychological 1.3800 mark, breaking above the 100-day SMA. A successful break of the 100-day SMA could pave way for the 1.3850 horizontal resistance level.

The Moving Average Convergence Divergence (MACD) indicator holds above the midline. Any uptick in the MACD could bring more upside momentum for the spot. The bulls would approach the psychological 1.3900 level in that case.

Alternatively, a break below the intraday’s low would result in the continuation of the prevailing trend with the first downside target at Tuesday’s low of 1.3723 followed by the 1.3700 horizontal support zone.

Next, the bears would not mind taking out the low made on October 14 at 1.3655.

GBP/USD additional levels

GBP/USD

Overview
Today last price	1.3762
Today Daily Change	0.0007
Today Daily Change %	0.05
Today daily open	1.3755

Trends
Daily SMA20	1.3645
Daily SMA50	1.3712
Daily SMA100	1.38
Daily SMA200	1.385

Levels
Previous Daily High	1.3815
Previous Daily Low	1.3736
Previous Weekly High	1.3834
Previous Weekly Low	1.3709
Previous Monthly High	1.3913
Previous Monthly Low	1.3412
Daily Fibonacci 38.2%	1.3766
Daily Fibonacci 61.8%	1.3785
Daily Pivot Point S1	1.3722
Daily Pivot Point S2	1.369
Daily Pivot Point S3	1.3644
Daily Pivot Point R1	1.3801
Daily Pivot Point R2	1.3848
Daily Pivot Point R3	1.388

Author

Rekha Chauhan

Independent Analyst

Rekha Chauhan has been working as a content writer and research analyst in the forex and equity market domain for over two years.

EUR/USD seems fragile below 1.1700 as Middle East war boosts energy prices

The EUR/USD pair trades flat at around 1.1680 during the Asian trading session on Tuesday, but broadly seems vulnerable, being close to its five-week low. The major currency pair is under pressure as surging oil prices due to the United States-Israel war with Iran have increased the risks of higher inflation for the Old Continent.

GBP/USD hovers around 1.3400 with bearish pressure intact

GBP/USD edges higher after three days of losses, trading around 1.3400 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates an ongoing bearish bias, as the pair trades within a descending channel pattern.

Gold defends bids as US-Iran war continues to fuel safe-haven flows

Gold retains positive bias for the fifth consecutive day on Tuesday as rising geopolitical tensions in the Middle East continue to underpin safe-haven assets. However, a bullish US Dollar keeps the bullion below its highest level since late January, set on Monday, warranting caution before positioning for any further appreciation.

Top Crypto Gainers: Near Protocol, Virtuals Protocol, and Morpho lead market recovery

Near Protocol, Virtuals Protocol, and Morpho are leading the market recovery with double-digit gains over the last 24 hours. Technically, NEAR extends the breakout of the falling channel pattern, VIRTUAL holds above the 50-day EMA, while MORPHO tests a crucial resistance.

The market is not panicking it is repricing the probability distribution of Oil and time

At the end of the day, markets do not trade morality or geopolitics. They trade transmission channels. And the only channel that truly matters in this maelstrom runs through the price of energy and the time value of money.

Grass 20% bullish breakout defies broader market weakness

Grass (GRASS) is edging up above $0.30 at the time of writing on Monday. The token’s notable 20% intraday surge stands out amid heightened volatility in the broader crypto market.