- GBP/USD falls more than 0.50%, with sellers targeting new lows after breaking the 1.2644 level.
- Bearish momentum confirmed by RSI; The Pound faces key supports at 1.2600 and 1.2486.
- Potential recovery depends on breaking resistance at 1.2700 and 1.2818 (200-day SMA).
The British Pound fell more than 0.50% against the Dollar on Monday, as the latter recovered from last week’s losses, remaining in bid on Monday. At the time of writing, GBP/USD is trading at 1.2659, falling after reaching a daily high of 1.2735.
GBP/USD Price Forecast: Technical Outlook
The GBP/USD bearish trend remains intact, and could be threatened if buyers break the 200-day SMA at 1.2818. Sellers must break the Nov 28 daily low of 1.2644 before extending its decline to 1.2600. A break of the latter will expose the last major support at 1.2486, the Nov. 22 low, followed by the current year’s low of 1.2299.
Conversely, if GBP/USD breaks above 1.2700, the first resistance would be 1.2800, followed by the 200-day SMA at 1.2818. Once those two levels are broken, 1.2900 and the 50-day SMA would emerge as the next key resistance at 1.2943.
Momentum remains bearish, as shown by the Relative Strength Index (RSI), which is pointing lower at the start of December.
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 Australian dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.94% | 0.81% | 0.16% | 0.58% | 0.93% | 0.90% | 0.79% | |
| EUR | -0.94% | -0.17% | -0.77% | -0.34% | 0.08% | -0.03% | -0.13% | |
| GBP | -0.81% | 0.17% | -0.63% | -0.17% | 0.25% | 0.15% | 0.02% | |
| JPY | -0.16% | 0.77% | 0.63% | 0.43% | 0.81% | 0.77% | 0.57% | |
| CAD | -0.58% | 0.34% | 0.17% | -0.43% | 0.50% | 0.32% | 0.19% | |
| AUD | -0.93% | -0.08% | -0.25% | -0.81% | -0.50% | -0.11% | -0.27% | |
| NZD | -0.90% | 0.03% | -0.15% | -0.77% | -0.32% | 0.11% | -0.11% | |
| CHF | -0.79% | 0.13% | -0.02% | -0.57% | -0.19% | 0.27% | 0.11% |
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.
