GBP/USD Price Analysis: Improves to near 1.2700 followed by the monthly high

GBP/USD maintains its position below the psychological barrier of 1.2700.
A break above the 1.2750 major level could lead the pair to revisit the monthly high at 1.2785.
The pair could find a support zone around the 1.2650 major level and the 23.6% Fibonacci retracement at 1.2648.
Technical analysis suggests a lack of a strong directional bias in the pair.

Akhtar Faruqui FXStreet

GBP/USD recovers its recent gains, trading higher near 1.2690 during the Asian session on Wednesday. The psychological level at 1.2700 appears as the immediate resistance followed by the weekly high of 1.2747 aligned with the major barrier at 1.2750. A breakthrough above the major barrier could influence the GBP/USD pair to revisit the monthly high at 1.2785 followed by the psychological level at 1.2800.

On the downside, the GBP/USD pair could find support at the major level 1.2650 aligned with the 23.6% Fibonacci retracement at 1.2648. A break below the latter could lead the pair to test the 50-day Exponential Moving Average (EMA) at 1.2632 before the psychological support at 1.2600 level. If the pair moves below the psychological support, it could approach the 38.2% Fibonacci retracement at 1.2532.

In addition, the Moving Average Convergence Divergence (MACD), a lagging indicator, provides further nuanced information. The fact that the MACD line is above the centerline is considered a bullish signal, suggesting the potential for upward momentum. However, caution is warranted as the MACD line is below the signal line. This could indicate a degree of hesitation or uncertainty among investors, and it suggests that the bullish momentum may not be confirmed.

The technical analysis of the GBP/USD pair shows insights from key indicators. The 14-day Relative Strength Index (RSI) positioned at a value of 50 signifies a neutral point, indicating a balance between buying and selling pressure. This suggests a lack of a strong directional bias in the market at this moment. Given these mixed signals, traders may exercise caution and wait for additional confirmation before making aggressive bets on the GBP/USD pair.

GBP/USD: Daily Chart

GBP/USD: additional technical levels

Overview
Today last price	1.2696
Today Daily Change	0.0010
Today Daily Change %	0.08
Today daily open	1.2686

Trends
Daily SMA20	1.2712
Daily SMA50	1.265
Daily SMA100	1.2455
Daily SMA200	1.2554

Levels
Previous Daily High	1.2748
Previous Daily Low	1.2649
Previous Weekly High	1.2766
Previous Weekly Low	1.2597
Previous Monthly High	1.2828
Previous Monthly Low	1.2501
Daily Fibonacci 38.2%	1.2687
Daily Fibonacci 61.8%	1.271
Daily Pivot Point S1	1.2641
Daily Pivot Point S2	1.2596
Daily Pivot Point S3	1.2543
Daily Pivot Point R1	1.2739
Daily Pivot Point R2	1.2792
Daily Pivot Point R3	1.2837

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

AUD/USD slides as AI sell-off rattles Wall Street

The Aussie Dollar dives 0.11% on Thursday as the US Dollar retreats from monthly highs, with safe-haven flows shifting from the Greenback to the Japanese Yen and the Swiss Franc amid losses on Wall Street and US yields. The AUD/USD trades at 0.6960 at the time of writing.

USD/JPY slips below 158.00 as USD retreats

USD/JPY returns to the red below 158.00 in the Asian session on Thursday amid speculation that authorities will step in to prop up the Japanese Yen. Meanwhile, the US Dollar eases from near an 18-month high on profit taking, ignoring Wednesday's hawkish FOMC Minutes and the risk of a further escalation of tensions in the Middle East, adding to the pair's pullback.

Gold clings to daily gains; still below $4,150

Gold regains some composure and climbs back to the vicinity $4,150 mark per troy ounce amid decent gains on Thursday. The yellow metal’s recovery follows some loss of momentum in the US Dollar strength and a decent drop in US Treasury yields across the curve.

XRP downtrend persists as EMA support strains while Binance reserves swell

Ripple (XRP) sellers are gaining ground on Thursday, as the token slips below $1.40. Sell-side pressure remains intense in the broader crypto market, as seen with leading digital assets, including Bitcoin (BTC) currently below $83,000 and Ethereum (ETH), sliding below $2,600. Despite the correction, XRP retains a constructive technical outlook, with support provided by a key moving average cluster.

Three fundamental drivers are all pushing the Euro south. This chart shows them lining up on 1.1000

EUR/USD has already fallen sharply, but the forces pushing the pair lower are becoming increasingly interconnected. French fiscal concerns, renewed energy pressure and an uncomfortable policy dilemma for the European Central Bank (ECB) are colliding with a US economy that continues to give the Federal Reserve (Fed) little reason to turn dovish.

The UK 30-year gilt just hit a 1998 high. Is that good or bad for the British Pound?

The yield on the UK's 30-year government bond, or gilt, went through 6% on October 1 for the first time since early 1998, and on Monday the Pound was at its strongest against the Euro since June 2025. The gilt market's 28-year high is mostly someone else's. Since early May, the 30-year gilt yield has risen about 0.15 of a percentage point and the US 30-year about 0.7.