- GBP/USD could test the upper boundary of the ascending channel around the 1.3000 level.
- Momentum indicators reflect short-term bullish momentum for the pair.
- The 14-day EMA at 1.2885 could act as immediate support, followed by the lower boundary of the ascending channel.
GBP/USD snaps its two-day losses, trading around 1.2920 in Monday’s Asian session. The daily chart analysis shows that the pair is within an ascending channel, signaling an uptrend in the pair’s price movements.
Additionally, the Moving Average Convergence Divergence (MACD) momentum indicator is reflecting short-term bullish momentum, with the MACD line above the center line and the signal line. Additionally, the 14-day Relative Strength Index (RSI) is hovering above the 50 level, confirming the bullish trend.
In terms of resistance, the GBP/USD pair could test the upper boundary of the ascending channel around the psychological level of 1.3000. A break above this level could provide support for the pair to revisit the yearly high of 1.3044 recorded on July 17.
On the downside, immediate support appears at the 14-day exponential moving average (EMA) at the level of 1.2885, followed by the lower threshold of the ascending channel around the level of 1.2830. A break below the latter could lead the GBP/USD pair to navigate the region around the retracement support level of 1.2615.
GBP/USD: Daily Chart
Pound Sterling PRICE Today
The table below shows the exchange rate of the British Pound (GBP) against major currencies today. The British Pound was the strongest currency against the Australian Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.04% | -0.02% | 0.03% | 0.12% | 0.28% | 0.37% | 0.10% | |
| EUR | 0.04% | 0.02% | 0.05% | 0.12% | 0.36% | 0.36% | 0.08% | |
| GBP | 0.02% | -0.02% | -0.06% | 0.09% | 0.35% | 0.34% | 0.05% | |
| JPY | -0.03% | -0.05% | 0.06% | 0.11% | 0.31% | 0.30% | -0.00% | |
| CAD | -0.12% | -0.12% | -0.09% | -0.11% | 0.26% | 0.26% | -0.02% | |
| AUD | -0.28% | -0.36% | -0.35% | -0.31% | -0.26% | 0.00% | -0.30% | |
| NZD | -0.37% | -0.36% | -0.34% | -0.30% | -0.26% | -0.00% | -0.25% | |
| CHF | -0.10% | -0.08% | -0.05% | 0.00% | 0.02% | 0.30% | 0.25% |
The heatmap shows percentage changes of major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the chart will represent the GBP (base)/USD (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
