GBP/USD Price Forecast: Remains below 50-day EMA near the confluence of 1.3400
- GBP/USD may navigate the region around the eight-month low of 1.3140.
- The 14-day Relative Strength Index at 49.56 indicates momentum is consolidating.
- The immediate barrier lies at the 50-day EMA of 1.3383.
GBP/USD remains steady after four days of losses, trading around 1.3370 during the European hours on Wednesday. The pair is holding a mildly bearish near‑term bias as spot remains capped beneath the 50‑day and nine-day Exponential Moving Averages (EMAs).
The 14-day Relative Strength Index (RSI) at 49.56 sits near the neutral line, hinting at consolidative momentum rather than a decisive directional push.
The technical analysis of the daily chart suggests a bearish breakdown and signals a potential trend reversal or consolidation phase as the GBP/USD pair has broken below the lower boundary of an ascending channel. Further support lies at the eight-month low of 1.3140, recorded on June 24.
On the upside, the immediate barrier lies at the 50-day EMA of 1.3383, followed by the nine-day EMA at 1.3406. A rebound above the moving averages would revive the bullish bias and support the GBP/USD pair to explore the region around the upper boundary of the ascending channel around 1.3640, followed by the five-month high of 1.3658, reached on May 1. A break above this level would expose 1.3869, the highest level since September 2021, reached on January 27.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Pound Sterling 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 | -0.11% | -0.04% | -0.10% | -0.11% | 0.02% | 0.10% | -0.12% | |
| EUR | 0.11% | 0.08% | 0.04% | -0.00% | 0.13% | 0.22% | -0.01% | |
| GBP | 0.04% | -0.08% | -0.04% | -0.08% | 0.04% | 0.14% | -0.09% | |
| JPY | 0.10% | -0.04% | 0.04% | -0.01% | 0.13% | 0.20% | -0.02% | |
| CAD | 0.11% | 0.00% | 0.08% | 0.01% | 0.14% | 0.27% | -0.01% | |
| AUD | -0.02% | -0.13% | -0.04% | -0.13% | -0.14% | 0.10% | -0.14% | |
| NZD | -0.10% | -0.22% | -0.14% | -0.20% | -0.27% | -0.10% | -0.25% | |
| CHF | 0.12% | 0.00% | 0.09% | 0.02% | 0.00% | 0.14% | 0.25% |
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.
