GBP/USD Price Analysis: Thursday’s Doji tests buyers below 1.3200

GBP/USD struggles for clear directions after a volatile day, sidelined of late.
Doji signals reversal from previous rebound but MACD teases bull cross.
Previous support from late January holds gate for buyers, 10-DMA challenges downside.

Anil Panchal FXStreet

GBP/USD makes rounds to 1.3150 amid Friday’s initial Asian session, following a BOE-led volatile day that ended near the opening levels.

In doing so, the cable pair portrayed a Doji candlestick below a support-turned-resistance line from January 27, suggesting consolidation of the latest gains.

However, the MACD line is likely crossing the signal line from below, which in turn suggests a bull cross and may keep the buyers hopeful to conquer the 1.3205 resistance.

Following that, 21-DMA and January’s low, respectively around 1.3280 and 1.3360, will lure the GBP/USD buyers.

On the contrary, the 10-DMA level surrounding 1.3100 restricts the immediate downside of the pair ahead of a three-week-old previous resistance line near 1.3030.

During the quote’s weakness past 1.3030, the latest multi-month low of 1.3000 may act as an intermediate halt before direct GBP/USD bears towards November 2020 low around 1.2855.

GBP/USD: Daily chart

Trend: Sideways

Additional important levels

Overview
Today last price	1.3155
Today Daily Change	0.0006
Today Daily Change %	0.05%
Today daily open	1.3149

Trends
Daily SMA20	1.3309
Daily SMA50	1.3458
Daily SMA100	1.3432
Daily SMA200	1.361

Levels
Previous Daily High	1.3156
Previous Daily Low	1.3034
Previous Weekly High	1.3246
Previous Weekly Low	1.3028
Previous Monthly High	1.3644
Previous Monthly Low	1.3273
Daily Fibonacci 38.2%	1.311
Daily Fibonacci 61.8%	1.3081
Daily Pivot Point S1	1.307
Daily Pivot Point S2	1.2992
Daily Pivot Point S3	1.2949
Daily Pivot Point R1	1.3192
Daily Pivot Point R2	1.3235
Daily Pivot Point R3	1.3314

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 advances above 1.1800 ahead of German inflation data

EUR/USD stretches higher above 1.1800 in the European session on Friday, helped by sustained US Dollar weakness. Attention now turns toward the release of the preliminary inflation data for February from Germany and its major states during the day.

GBP/USD struggles near 1.3500 amid UK political drama, BoE easing bias

GBP/USD struggles to build on the overnight modest bounce from the weekly low and oscillates in a narrow band near 1.3500 in European trading on Friday. The Gorton and Denton by-election, held on February 26, has become a focal point of political drama in the UK, along with the Bank of England (BoE) easing expectations, acts as a headwind for the British Pound and the GBP/USD pair.

Gold flat lines below $5,200; traders look to US PPI for fresh impetus

Gold struggles to capitalize on its modest gains registered over the past two days and trades below the $5,200 mark through the first half of the European session on Friday. Geopolitical risks remain in play amid a large US naval and air power buildup in the Middle East.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.