GBP/USD technical analysis: 1.2570, 50% Fibo. remain on bull’s radar

The sustained trading beyond 23.6% Fibonacci retracement, 100-HMA favors the GBP/USD pair’s on-going recovery.
A horizontal-line comprising early-month low, current-week high acts immediate key resistance.

Anil Panchal FXStreet

Despite failing to grow past-early month lows, GBP/USD remains on the road to recovery as it takes the rounds to 1.2550 ahead of the UK open on Friday.

While gradual recovery of the 14-bar relative strength index (RSI) signals the pair’s upside, the horizontal area around 1.2570, comprising early-month low and current-week high, acts as key immediate resistance for the pair.

On the beak of 1.2570, 50% Fibonacci retracement of the latest downpour ending on July 09 at 1.2587 can please the buyers whereas 1.2600 and 1.2630 could be next on their radars.

Alternatively, 23.6% Fibonacci retracement and 100-hour moving average (HMA) close to 1.2505/10 can limit near-term declines of the pair.

Should there be additional weakness past-1.2505, current month low surrounding 1.2440 and the year 2019 bottom around 1.2430 seem crucial to watch.

GBP/USD hourly chart

Trend: Bullish

1. R3 1.2648
2. R2 1.261
3. R1 1.2565
PP 1.2527
1. S1 1.2482
2. S2 1.2444
3. S3 1.24

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD gathers traction, approaches 1.1800

EUR/USD manages to reverse Tuesday’s pullback, advancing to two-day highs near the 1.1800 hurdle in the latter part of Wednesday’s session. The pair’s decent uptick comes on the back of the modest retracement in the US Dollar, as investors continue to closely follow developments on the trade front and news from the White House in the wake of President Trump’s SOTU speech.

GBP/USD challenges multi-day highs near 1.3530

GBP/USD leaves behind the previous day’s decline and regains fresh upside traction on Wednesday, surpassing the 1.3500 barrier in a context of a modest decline in the Greenback and a generalised improved mood in the risk-linked space. Meanwhile, the US tariff narrative continues to dictate the mood among market participants after Presidet Trump’s SOTU speech failed to surprise markets.

Gold remains bid and close to $5,200

Gold buyers are returning to the fold on Wednesday, targeting the $5,200 area and possibly beyond, after Tuesday’s corrective dip from monthly highs. The rebound in the precious metal comes as the US Dollar loses traction, with Trump’s SOTU speech offering little fresh direction and AI-related nerves continuing to ease.

Crypto Today: Bitcoin, Ethereum, XRP test rebound strength as ETF inflows return

Bitcoin, Ethereum and Ripple are gaining traction at the time of writing on Wednesday, amid persistent market doldrums. The Crypto King is up over 2% intraday, trading above $65,000 from the day’s opening of $64,058.

Nvidia earnings to influence AI trade and broader market sentiment

For the last three years, Nvidia has been the engine of the AI boom, and now Wall Street is watching to see whether that momentum can keep going. High-growth stocks have been struggling to maintain their bullish trend in 2026.

Cosmos Hub Price Forecast: ATOM rebounds slightly, bearish outlook remains intact

Cosmos Hub (ATOM) price rebounds, trading above $2.05 at the time of writing on Wednesday, after undergoing a sharp correction since last week. Weakening on-chain and derivatives data support a bearish outlook, while technical analysis remains unfavorable.