- GBP/USD breaks above 100-day SMA; targets Oct 30 high of 1.3047.
- Buyers can push towards 1.3100, with resistance at the 50-day SMA at 1.3118.
- Failure to hold 1.3000 could cause the pair to retreat to the 1.2908 support level.
The British Pound advanced against the Dollar during the North American session, with buyers reclaiming the 1.3000 figure and overcoming the 100-day SMA resistance at 1.2982. At the time of writing, GBP/USD is trading at 1.3011, up 0.43%.
GBP/USD Price Forecast: Technical Outlook
After briefly consolidating on Monday, GBP/USD broke above 1.3000, although it remains slightly tilted lower. Buyers would need to reclaim the October 30 high of 1.3047 to take control and push the pair towards 1.3100. Once this is done and those levels are removed, the next resistance would be the 50-day SMA at 1.3118.
On the other hand, sellers would need to drag GBP/USD below 1.3000 and the 100-day SMA for a bearish resumption. In that case, the next support would be the October 24-25 low of 1.2908, followed by the October 31 pivot low of 1.2843 before the 200-day SMA at 1.2810.
The oscillators suggest that the bulls are gaining strength, with the Relative Strength Index (RSI) pointing up. However, it has yet to break above its neutral line of 50. Therefore, caution is advised.
GBP/USD Price Chart – Daily
Pound Sterling PRICE Today
The table below shows the percentage change of the British Pound (GBP) against major currencies today. Pound sterling was the strongest currency against the Swiss franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.21% | -0.34% | -0.08% | -0.26% | -0.68% | -0.49% | 0.00% | |
| EUR | 0.21% | -0.14% | 0.13% | -0.05% | -0.50% | -0.28% | 0.22% | |
| GBP | 0.34% | 0.14% | 0.24% | 0.07% | -0.36% | -0.15% | 0.36% | |
| JPY | 0.08% | -0.13% | -0.24% | -0.18% | -0.61% | -0.44% | 0.09% | |
| CAD | 0.26% | 0.05% | -0.07% | 0.18% | -0.43% | -0.25% | 0.28% | |
| AUD | 0.68% | 0.50% | 0.36% | 0.61% | 0.43% | 0.19% | 0.71% | |
| NZD | 0.49% | 0.28% | 0.15% | 0.44% | 0.25% | -0.19% | 0.51% | |
| CHF | -0.01% | -0.22% | -0.36% | -0.09% | -0.28% | -0.71% | -0.51% |
The heat map shows percentage changes for 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 box 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.
