GBP/USD Technical Analysis: Cable trading just below the 1.2900 figure as bulls challenge the 100-day simple moving average

Flavio Tosti Independent Analyst

GBP/USD daily chart

GBP/USD is trading in a bear trend below its 200-period simple moving averages (SMAs).
GBP/USD traders are challenging the 1.2900 figure and the 100 DSMA (Daily SMA).

GBP/USD 4-hour chart

GBP/USD is near monthly highs as it is trading above its main SMAs.

GBP/USD 30-minute chart

GBP/USD is trading above its main SMAs as bulls want to break above the 1.2900 figure.
A break above the current resistance would open the doors to 1.3000 the figure.
Alternatively, if bears resume the main bear trend the 1.2800 level is the bearish target followed by 1.2720 in the coming sessions.

Additional key levels

GBP/USD

Overview:
    Today Last Price: 1.2862
    Today Daily change: 16 pips
    Today Daily change %: 0.125%
    Today Daily Open: 1.2846
Trends:
    Previous Daily SMA20: 1.2696
    Previous Daily SMA50: 1.2766
    Previous Daily SMA100: 1.2894
    Previous Daily SMA200: 1.3124
Levels:
    Previous Daily High: 1.2866
    Previous Daily Low: 1.271
    Previous Weekly High: 1.2866
    Previous Weekly Low: 1.2704
    Previous Monthly High: 1.284
    Previous Monthly Low: 1.2477
    Previous Daily Fibonacci 38.2%: 1.2807
    Previous Daily Fibonacci 61.8%: 1.277
    Previous Daily Pivot Point S1: 1.2748
    Previous Daily Pivot Point S2: 1.2651
    Previous Daily Pivot Point S3: 1.2592
    Previous Daily Pivot Point R1: 1.2905
    Previous Daily Pivot Point R2: 1.2964
    Previous Daily Pivot Point R3: 1.3061

Author

Flavio Tosti

Independent Analyst

EUR/USD looks weak below 1.1800

EUR/USD has slipped back under pressure, breaking through the 1.1800 support and drifting towards the weekly lows near 1.1770 ahead of the opening bell in Asia. The move reflects renewed strength in the US Dollar, with steady geopolitical tensions keeping its demand firm. Moving forward, the release of the German labour market report and flash inflation figures should keep European investors entertained on Friday.

GBP/USD threatens the 200-day SMA near 1.3440

GBP/USD rapidly leaves behind Wednesday’s strong advance, coming under heavy pressure and retesting the 1.3440 zone, where the critical 200-day SMA is located. Cable’s deep pullback follows the strong gains in the Greenback, while investors continue to pencil in a potential BoE rate cut in March.

Gold remains below $5,200 despite tariff jitters and geopolitical risks

Gold is seen consolidating in a range below the $5,200 mark during the Asian session on Friday amid mixed cues. Trade jitters, along with the risk of a potential US-Iran war, act as a tailwind for the safe-haven bullion. Meanwhile, the Fed's hawkish outlook keeps the US Dollar close to the monthly high and caps the non-yielding yellow metal. Nevertheless, the commodity remains on track to register gains for the fourth straight week, though the fundamental backdrop warrants some caution for bullish traders.