GBP/USD Price Forecast: Moves below 1.2950 toward nine-day EMA

GBP/USD may aim for immediate resistance at the four-month high of 1.2989.
If the 14-day RSI exceeds 70, it will signal overbought conditions and a potential downward correction.
The pair is expected to find immediate support at the nine-day EMA of 1.2895.

Akhtar Faruqui FXStreet

The GBP/USD pair extends its losing streak for the third successive session, trading around 1.2940 during the Asian hours on Monday. Technical analysis of the daily chart suggests a continued bullish bias, with the pair moving upwards within an ascending channel pattern.

The 14-day Relative Strength Index (RSI) remains slightly below 70, indicating strengthened bullish momentum. Further gains will indicate an overbought condition and downward correction sooner. Moreover, the GBP/USD pair continues to trade above the nine-day Exponential Moving Average (EMA), reinforcing strong short-term price dynamics and confirming the ongoing upward trend.

On the upside, the GBP/USD pair may challenge primary resistance at the four-month high of 1.2989, reached on March 12, followed by the five-month high at 1.3048, recorded on November 6, and ascending channel’s upper boundary near 1.3050.

The GBP/USD pair is likely to find immediate support at the nine-day EMA of 1.2895. A break below this level could weaken short-term price momentum, potentially driving the pair toward the ascending channel’s lower boundary near 1.2730, followed by the 50-day EMA at 1.2665.

GBP/USD: Daily Chart

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Canadian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.03%	0.03%	0.10%	-0.06%	0.12%	-0.18%	-0.06%
EUR	0.03%		-0.06%	-0.28%	-0.02%	0.00%	-0.17%	-0.06%
GBP	-0.03%	0.06%		0.10%	-0.17%	0.06%	-0.12%	-0.06%
JPY	-0.10%	0.28%	-0.10%		-0.15%	-0.19%	-0.23%	-0.28%
CAD	0.06%	0.02%	0.17%	0.15%		-0.03%	-0.13%	-0.55%
AUD	-0.12%	-0.01%	-0.06%	0.19%	0.03%		-0.15%	-0.05%
NZD	0.18%	0.17%	0.12%	0.23%	0.13%	0.15%		0.11%
CHF	0.06%	0.06%	0.06%	0.28%	0.55%	0.05%	-0.11%

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

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.

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