GBP/USD Price Forecast: Climbs to three-day peak, approaches 1.3000
- GBP/USD remains above the 100-day SMA at 1.2967, with a break above 1.3000 potentially targeting 1.3015 and weekly high of 1.3057.
- RSI signals mild bullish momentum, but bias remains bearish below the neutral line, adding to resistance at the 1.3000 mark.
- Sellers need to break below 1.2967, with further support at the bottom trendline near 1.2925/35 for a bearish shift.
The Pound Sterling recovered some ground and traded at around three-day highs of 1.2998 yet remained unable to crack the 1.3000 figure at the time of writing. Market mood has improved slightly, a headwind for Greenback, which, despite that, is headed to sustain weekly gains of more than 0.50%.
GBP/USD Price Forecast: Technical outlook
The GBP/USD trades above the 100-day Simple Moving Average (SMA) at 1.2967, with buyers pressing to clear the 1.3000 figure. The Relative Strength Index (RSI) is bearish below its neutral line but slightly tilted to the upside in the short term.
If buyers lift GBP/USD above 1.3000, they could push prices to October 22 high at 1.3015, followed by the weekly peak at 1.3057. Conversely, sellers need to drive the GBP/USD below the 100-day SMA, followed by the bottom trendline of an ascending channel at around 1.2925/35.
GBP/USD Price Chart – Daily
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the New Zealand Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.03% | -0.10% | 0.14% | 0.12% | 0.09% | 0.21% | 0.06% | |
| EUR | 0.03% | -0.05% | 0.16% | 0.14% | 0.11% | 0.24% | 0.08% | |
| GBP | 0.10% | 0.05% | 0.24% | 0.19% | 0.16% | 0.29% | 0.10% | |
| JPY | -0.14% | -0.16% | -0.24% | -0.03% | -0.06% | 0.07% | -0.10% | |
| CAD | -0.12% | -0.14% | -0.19% | 0.03% | -0.04% | 0.10% | -0.10% | |
| AUD | -0.09% | -0.11% | -0.16% | 0.06% | 0.04% | 0.13% | -0.07% | |
| NZD | -0.21% | -0.24% | -0.29% | -0.07% | -0.10% | -0.13% | -0.20% | |
| CHF | -0.06% | -0.08% | -0.10% | 0.10% | 0.10% | 0.07% | 0.20% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Author
Christian Borjon Valencia
FXStreet
Christian Borjon began his career as a retail trader in 2010, mainly focused on technical analysis and strategies around it. He started as a swing trader, as he used to work in another industry unrelated to the financial markets.
