The Pound Sterling recovered some ground against the US Dollar on Thursday, as US Treasury yields are sliding, undermining the Greenback.
GBP/USD bounces back off weekly lows around 1.2680. Technical outlook shows neutral to upward bias, with key resistance at 1.2803. Critical support levels include May 24 low at 1.2674 and the 50-DMA at 1.2581. Consequently, the GBP/USD bounced off weekly lows, reached 1.2680, and traded at 1.2728, gaining 0.20%. GBP/USD Price Analysis: Technical outlook The daily chart suggests the GBP/USD is neutral to upward bias, but the buyer's failure to crack the March 21 daily high at 1.
Conversely, if sellers move in decisively and push the major below 1.2700, further losses lie ahead. Key support levels would be tested. Initially, the May 24 low of 1.2674, followed by the 1.2600 mark. Down below, the 50-day moving average at 1.2581 awaits. GBP/USD Price Action – Daily Chart GBP/USD Overview Today last price 1.273 Today Daily Change 0.0029 Today Daily Change % 0.23 Today daily open 1.2701 Trends Daily SMA20 1.2635 Daily SMA50 1.2581 Daily SMA100 1.2634 Daily SMA200 1.
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