GBP/USD retraces its recent losses, trading around 1.3000 during the Asian hours on Tuesday.
GBP/USD may struggle as daily chart analysis suggests a bearish bias. The pair could find support around the lower boundary of the descending channel at 1.2810 level. The immediate barrier appears around the upper boundary of the descending channel at the nine-day EMA of 1.3040 level. The daily chart analysis shows the pair is consolidating within the descending channel pattern, which suggests a bearish bias for the pair.
For resistance, the GBP/USD pair could test the upper boundary of the descending channel around the nine-day Exponential Moving Average at the 1.3040 level. A break above this level could support the pair to approach the psychological level of 1.3100. GBP/USD: Daily Chart British Pound PRICE Today The table below shows the percentage change of British Pound against listed major currencies today. British Pound was the strongest against the US Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.04% -0.
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 Forecast: Falls and consolidates at around 1.3050The Pound Sterling begins the week on the back foot amid a scarce economic docket on Monday, which will gather traction on Tuesday with the UK’s employment report.
Read more »
GBP/USD Price Forecast: Bears have the upper hand, 50-day SMA breakdown in playThe GBP/USD pair extends its sideways consolidative price move at the start of a new week and oscillates in a narrow trading band around mid-1.3000s through the first half of the European session.
Read more »
GBP/USD Price Forecast: Remains confined in a range below 1.3100 ahead of UK CPIThe GBP/USD pair extends its sideways consolidative price move on Wednesday and remains confined in a familiar range held over the past week or so.
Read more »
GBP/USD Price Forecast: Struggles at 1.3000, yet remains flatThe Pound Sterling recovered some ground yet cannot hold firm above the 1.3000 figure against the Greenback.
Read more »
GBP/USD Price Forecast: Upbeat UK data fuels rally, stalls at 1.3050The Pound Sterling resumed its uptrend after hitting a weekly low of 1.2974 on Wednesday.
Read more »
GBP/USD Price Forecast: Bears have the upper hand while below 1.3135 confluenceThe GBP/USD pair struggles to capitalize on a two-day-old recovery move from the 1.2975 area, or a nearly two-month trough touched last Thursday and kicks off the new week on a softer note.
Read more »