GBP/USD Price Analysis: Unable to test 1.3060, losses momentum

Cable’s bullish short-term trend remains intact but it reached a strong barrier.
Failure to break above 1.3060 should lead to a correction.

Matías Salord FXStreet

The GBP/USD is up on Friday, consolidating strong weekly gains and a recovery from four month lows. The move higher run into resistance at 1.3050 before the barrier seen around 1.3060. A break above 1.3060 should reinforce the current rally, opening the doors to 1.3100.

Technical indicators in the four-hours chart show extreme overbought readings and the RSI is turning south favoring some consolidation or correction ahead. Also Momentum is turning but price remains far from the 20-SMA that stands around 1.2900.

Market volatility is elevated across financial markets that could lead to erratic moves in currency pairs, including GBP/USD. It the pound retreats further, the 20-hour moving average stands at 1.2975.

In the weekly chart, the 1.3000 zone also coincides with the 20-week moving average. A close above could be positive for the pound but a stronger sign would be a close above 1.3060.

GBP/USD 4 hour chart

GBP/USD

Overview
Today last price	1.3021
Today Daily Change	0.0060
Today Daily Change %	0.46
Today daily open	1.2961

Trends
Daily SMA20	1.2926
Daily SMA50	1.3015
Daily SMA100	1.2991
Daily SMA200	1.2705

Levels
Previous Daily High	1.2968
Previous Daily Low	1.2861
Previous Weekly High	1.3018
Previous Weekly Low	1.2726
Previous Monthly High	1.3204
Previous Monthly Low	1.2726
Daily Fibonacci 38.2%	1.2927
Daily Fibonacci 61.8%	1.2902
Daily Pivot Point S1	1.2892
Daily Pivot Point S2	1.2823
Daily Pivot Point S3	1.2784
Daily Pivot Point R1	1.2999
Daily Pivot Point R2	1.3038
Daily Pivot Point R3	1.3107

Author

Matías Salord

FXStreet

Matías started in financial markets in 2008, after graduating in Economics. He was trained in chart analysis and then became an educator. He also studied Journalism. He started writing analyses for specialized websites before joining FXStreet.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

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.