- GBP/USD begins the week down, struggling to hold above 1.3000.
- Sellers eye key support at last week’s low of 1.2973, with further downside targets at the 100-DMA and the 200-DMA, each at 1.2959 and 1.2796.
- Buyers must reclaim 1.3100 to challenge the 50-DMA at 1.3133 and aim for the YTD high of 1.3434.
The Pound Sterling is losing some ground against the Greenback. Increasing tensions in the Middle East are spurring a risk-off environment despite China’s efforts to propel its economy. At the time of writing, the GBP/USD trades at 1.2997, down 0.38%.
GBP/USD Price Forecast: Technical outlook
The GBP/USD begins the week on the back foot after opening at around 1.3039. Since then, the pair hit a 1.3057 high before sliding beneath the 1.3000 mark.
Momentum suggests that sellers are in charge, as portrayed by the Relative Strength Index (RSI). However, they must clear last week’s low of 1.2973 before challenging the 100-day moving average (DMA) at 1.2959, aiming to push prices toward the 200-DMA at 1.2796.
On the other hand, buyers must lift the GBP/USD spot price above 1.3100 so they can test the 50-DMA at 1.3133 as they prepare to challenge the year-to-date (YTD) high at 1.3434.
GBP/USD Price Action – 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 strongest against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.34% | 0.47% | 0.47% | 0.19% | 0.64% | 0.54% | 0.14% | |
| EUR | -0.34% | 0.06% | 0.03% | -0.09% | 0.27% | 0.09% | -0.30% | |
| GBP | -0.47% | -0.06% | -0.02% | -0.27% | 0.18% | 0.07% | -0.40% | |
| JPY | -0.47% | -0.03% | 0.02% | -0.27% | 0.17% | 0.12% | -0.40% | |
| CAD | -0.19% | 0.09% | 0.27% | 0.27% | 0.35% | 0.40% | -0.20% | |
| AUD | -0.64% | -0.27% | -0.18% | -0.17% | -0.35% | -0.03% | -0.60% | |
| NZD | -0.54% | -0.09% | -0.07% | -0.12% | -0.40% | 0.03% | -0.47% | |
| CHF | -0.14% | 0.30% | 0.40% | 0.40% | 0.20% | 0.60% | 0.47% |
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).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
AUD/USD remains subdued as US Dollar gains ground due to Trump tariff threats
The Australian Dollar faces challenges as Trump’s tariff threats have created a headwind for the risk-sensitive currencies. The AUD declined as Chinese policymakers considered letting Yuan fall in response to an expected sharp hike in US tariffs. The US Dollar gained ground following a hotter-than-expected US PPI report released on Thursday.
USD/JPY holds gains below 153.00 on fading hopes of BoJ rate hike
USD/JPY holds gains below a two-week high near 153.00 in Asian trading on Friday. The pair's upside is due to the growing acceptance that the BoJ will not raise rates next week. Further, the ongoing US Dollar advance, bolstered by expectations for a hawkish Fed rate cut, supports the pair.
Gold attracts some buyers to near $2,700, traders brace for Fed rate decision
Gold price recovers some lost ground to around $2,690 during the Asian trading hours on Friday after retreating from a five-week high in the previous session. All eyes will be on the US Federal Reserve interest rate decision next week.
Pro-crypto French Hill selected as Chairman of the House Financial Services Committee
Republican party members selected pro-crypto French Hill as the Chairman of the US House Financial Services Committee on Thursday to replace retiring Patrick McHenry.
Can markets keep conquering record highs?
Equity markets are charging to new record highs, with the S&P 500 up 28% year-to-date and the NASDAQ Composite crossing the key 20,000 mark, up 34% this year. The rally is underpinned by a potent mix of drivers.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.