- GBP/USD remains in a tight range between 1.3010 and 1.3095, pressured by the 50-day SMA at 1.3104 and support at 1.3000.
- Momentum favors sellers, with the RSI in bearish territory, suggesting a potential move lower towards the 100-day SMA at 1.2945.
- A break above 1.3100 could lead to resistance at the October 4 peak of 1.3175, with further gains targeting 1.3200.
The British pound starts the week on the wrong foot amid a thin economic agenda on Monday, which will gain traction on Tuesday with the UK jobs report. At the time of writing, GBP/USD is trading at 1.3046 and losing 0.09% amid thin trading conditions.
GBP/USD Price Forecast: Technical Outlook
GBP/USD consolidates for the third consecutive day within the 1.3010-1.3095 area, unable to break the top/bottom of the range, limited on the upside by the 50-day moving average (SMA) at 1.3104, and on the downside by the figure of 1.3000.
Momentum shows that sellers are in charge, with the Relative Strength Index (RSI) pointing lower and in bearish territory. This suggests that the path of least resistance is skewed to the downside, so GBP/USD traders should keep an eye on the crucial data release from the UK.
If GBP/USD falls below 1.3000, the next support would be the 100-day SMA at 1.2945, ahead of the 1.2900 figure. More losses are expected if the pair falls below the 200-day SMA at 1.2789.
Conversely, if GBP/USD breaks above 1.3100, look for the 50-day SMA at 1.3104. A break of the latter will expose the October 4 peak at 1.3175 before challenging 1.3200.
GBP/USD Price Action – Daily Chart
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 | 0.29% | 0.19% | 0.55% | 0.21% | 0.44% | 0.35% | 0.85% | |
| EUR | -0.29% | -0.18% | 0.18% | -0.00% | 0.17% | -0.04% | 0.46% | |
| GBP | -0.19% | 0.18% | 0.33% | 0.04% | 0.39% | 0.16% | 0.62% | |
| JPY | -0.55% | -0.18% | -0.33% | -0.35% | -0.09% | -0.16% | 0.28% | |
| CAD | -0.21% | 0.00% | -0.04% | 0.35% | 0.18% | 0.16% | 0.47% | |
| AUD | -0.44% | -0.17% | -0.39% | 0.09% | -0.18% | -0.08% | 0.38% | |
| NZD | -0.35% | 0.04% | -0.16% | 0.16% | -0.16% | 0.08% | 0.44% | |
| CHF | -0.85% | -0.46% | -0.62% | -0.28% | -0.47% | -0.38% | -0.44% |
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.
