GBP/USD: Will the buyers retain control above 1.3200?

Dhwani Mehta FXStreet

The GBP/USD pair gradually extends its bounce from a dip to 1.3170 levels and looks to take on the recent upmove beyond 1.32 handle, in the wake of broad USD correction.

GBP/USD: All eyes on UK, US GDP

The spot finally brought an end to its overnight consolidative mode towards Asia close, as the bulls regained poise amid better sentiment towards risk assets such as the equities, GBP etc.

More so, expectations of upbeat UK CBI industrial orders data combined with a broad based USD retreat from two-week tops, also helped push the major back onto 1.32 handle. Meanwhile, the USD index eases to 93.63, having posted 2-week highs at 93.78 levels.

Cable staged a solid comeback on Friday, as markets looked past poor UK retail sales report and cheered renewed optimism witnessed, following the comments from the UK PM May, citing that the UK is ready to honor the financial commitment made to the EU at a joint press conference with European Commission President Jean-Claude Juncker.

Meanwhile, the pound remains on the front foot heading into a big week ahead, with a plenty of risk events up on the sleeves, including the UK prelim GDP report, US durable good and advance GDP releases.

GBP/USD Technical View

Valeria Bednarik, Chief Analyst at FXStreet noted: “From a technical point of view, the daily chart shows that the recovery was not enough to change the latest negative bias, as the pair continues developing below a sharply bearish 20 DMA, whilst technical indicators hold below their mid-lines, although with no clear directional strength. In the 4 hours chart, the pair presents a neutral stance, trading a couple of pips above the 50% retracement of its latest bullish run and a flat 20 SMA, while technical indicators turned flat around their mid-lines. Support levels: 1.3145 1.3090 1.3050 Resistance levels: 1.3220 1.3260 1.3300.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

AUD/USD turns south toward 0.6900 as USD firms up

AUD/USD sees fresh selling and drops toward 0.6900 in late Asian trading on Monday, as renewed US Dollar strength weighs on the pair amid lingering Middle East and Russia-Ukraine geopolitical tensions. Focus remains on Oil prices, Treasury bond yields, and RBA expectations for fresh trading impetus in the major.

USD/JPY retakes 158.00 amid hawkish BoJ bets, firmer USD

USD/JPY erases losses and retakes 158.00 in the Asian session on Monday, trading within a one-week-old range. Geopolitical uncertainty continues to underpin the US Dollar, despite fading Fed rate hike hopes, supporting the pair's rebound. However, further upside could be capped by hawkish BoJ expectations and looming intervention risks that could support the Japanese Yen.

Gold flat lines below $4,150 as rallying USD offsets receding Fed hike bets

Gold extends its consolidative price move, trading below $4,150 heading into the European session, and moves within a range held over the past week or so. As investors look past Friday's disappointing US jobs data, the US Dollar regains strong positive traction and rallies to a fresh high since April 2025. This is seen as a key factor capping the commodity, though receding bets for an October rate hike by the Federal Reserve help limit the downside.

BNB: Derivatives back bullish upside continuation

BNB, formerly known as Binance Coin, edges lower trading around $790 on Monday after posting three consecutive weekly gains. Rising Open Interest and positive funding rates suggest that bullish positioning is strengthening in the derivatives market.

Economics week ahead

In the U.S., the September ISM Services index is expected to ease modestly while continuing to signal expansion, with particular attention on whether price pressures remain elevated. In Canada, the labor market likely rebounded in September, although broader trends still point to a cooling pace of employment growth.

The Euro is near a one-year low: Inflation could trigger its rebound, not its fall

EUR/USD has fallen to its lowest level since May 2025. The pair hit 1.1312 on Wednesday and trades well below the January peak of 1.2082. The decline reflects a powerful combination of US Dollar strength, geopolitical uncertainty and renewed concerns about Europe's exposure to higher energy prices.