GBP/USD Technical Analysis: Attempting to recover ahead of Fed action

The Sterling is taking chunks out of last Friday's technical decline, but the upcoming US Fed rate hike could see a stall in the Pound.
The attempted bullish recovery still remains deeply off of the 200-day SMA, and bulls will have to scrape out a higher low before establishing a continuation.

Joshua Gibson FXStreet

GBP/USD Chart, 1-Hour

Spot rate	1.3169
Week relative change	0.71%
Previous week high	1.3298
Previous week low	1.3054

Support 1	1.3145 (200-hour SMA)
Support 2	1.3094 (previous day low)
Support 3	1.3063 (current week low)

Resistance 1	1.3193 (previous day high)
Resistance 2	1.3300 (major technical level)
Resistance 3	1.3515 (200-day SMA)

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

EUR/USD recedes to daily lows near 1.1770

EUR/USD is losing some momentun, easing to daily troughs around 1.1770 on turnaround Tuesday. The pair’s pullback comes amid solid gains in the US Dollar, all amid lingering uncertainty around US tariffs ahead of comments from Fed officials.

GBP/USD comes under pressure below 1.3500, focus on BoE

GBP/USD is on the defensive again on Tuesday, hovering below the 1.3500 mark as the Greenback stages a firm rebound after two soft sessions. Investors, in the meantime, are expected to closely follow BoE official’s comments later in the day.

Gold fades the advance, back to $5,100

Gold is giving back a good portion of the recent multi-day rally, receding to the boundaries of the $5,100 region per troy ounce amid the marked rebound in the Greenback. In the meantime, markets’ attention remain on upcoming comments from Fed speakers.

Crypto Today: Bitcoin, Ethereum, XRP come under renewed pressure amid ETF outflows, tariff uncertainty

Bitcoin, Ethereum and Ripple are trading under increasing selling pressure at the time of writing on Tuesday, as market participants navigate renewed tariff uncertainty. The Crypto King holds above $63,000, down 2% intraday from its $64,656 open.

The Citrini report: How a debatable AI narrative can shake Wall Street

That AI-related headline alone was enough to rattle investors.US stocks slid sharply on Monday after a widely circulated Citrini Research memo outlined a hypothetical “2028 Global Intelligence Crisis”, warning that rapid AI adoption could push US unemployment into double digits as early as by mid-2028.

Dogecoin, Shiba Inu, and Pepe extend losses on bearish signals

Meme coins are facing renewed selling pressure amid fading broad risk-on sentiment so far this week, with Dogecoin, Shiba Inu, and Pepe extending their losses after recent corrections.