GBP/USD declines slightly, hovering around 1.2970 in Monday's Asian session after retreating from Friday's peak of 1.2990, the highest since July 2023.
GBP/USD could further lose ground as the 14-day RSI hints at an impending correction. The pair could test the psychological resistance at the 1.3000 level. The immediate support is anticipated near the upper boundary of the ascending channel, around the 1.2900 level. GBP/USD declines slightly, hovering around 1.2970 in Monday's Asian session after retreating from Friday's peak of 1.2990, the highest since July 2023.
2900 level. A return to the ascending channel could contribute support for the pair to reach the nine-day Exponential Moving Average at 1.2863. A break below the nine-day EMA could lead the GBP/USD pair to test the lower boundary of the ascending channel at the level of 1.2770. Further support could be found around the throwback support level of 1.2615.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
GBP/USD Price Analysis: Slips below 1.2800 as ‘evening star’ formation loomsThe GBP/USD falls during the North American session as Federal Reserve Chairman Jerome Powell appears at the US Senate Banking Committee.
Read more »
GBP/USD Price Analysis: Consolidates below 1.2700; 50/100-day SMAs confluence holds the keyThe GBP/USD pair extends its sideways consolidative price move for the second straight day and remains confined in a narrow range below the 1.2700 mark during the Asian session on Wednesday.
Read more »
GBP/USD Price Analysis: Stays firm below 1.2700, bearishly biasedThe Pound Sterling stayed firm against the Greenback on Tuesday, even though the latter remained positive, and a worse-than-expected Consumer Confidence report capped the US Dollar advance.
Read more »
GBP/USD Price Analysis: Remains bearish, falls below 1.2700The Pound Sterling creeps lower against the US Dollar on Tuesday, amid a scarce economic docket in the UK following the release of mixed data in the United States.
Read more »
GBP/USD Price Analysis: Creeps lower, remains below 1.2700The Pound Sterling extended its losses versus the Greenback on Monday, losses of some 0.06% as traders remain risk averse due to European political uncertainty.
Read more »
GBP/USD Price Analysis: Gains despite standing bearish below 1.2700The Pound Sterling held to earlier gains against the US Dollar on Tuesday at the time the Federal Reserve Chair Jerome Powell crossed the wires at the European Central Bank (ECB) forum in Portugal and said that inflation may get back to the Fed’s 2% target late next year or the following.
Read more »