- GBP/USD gains for a second consecutive day, influenced by halted US tariffs on Mexico and Canada.
- Technical stance remains bearish unless GBP/USD surpasses 1.2503 SMA and 1.2576 resistance.
- Sellers need to breach 1.2436 to reignite bearish momentum, potentially targeting lower supports.
The Pound Sterling (GBP) post gains versus the US Dollar (USD) for the second straight day after US President Donald Trump tariff threats on Mexico and Canada were delayed, due to negotiations beginning between the parties, aimed to improve fighting against fentanyl traffic and illegal migration. The GBP/USD trades at 1.2476 up 0.62%.
GBPUSD Price Forecast: Technical outlook
Despite extending its gains, the GBP/USD remains biased downward, unless buyers lift the pair above the 50-day Simple Moving Average (SMA) of 1.2503 and above the January 7 peak of 1.2576. Once that happens, the market would be in equilibrium, but with momentum skewed to the upside.
The Relative Strength Index (RSI) suggests that buyers are gathering momentum in the short term.
For a bearish continuation, the GBP/USD must drop below February 3 high of 1.2436, which would pave the way for challenging 1.2400. On further weakness the next support would be April 22, 2024 swing low of 1.2299.
GBPUSD Price Chart – Daily
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.82% | -0.61% | -0.08% | -1.69% | -1.10% | -0.92% | -0.74% | |
| EUR | 0.82% | 0.23% | 0.74% | -0.88% | -0.28% | -0.10% | 0.09% | |
| GBP | 0.61% | -0.23% | 0.48% | -1.10% | -0.50% | -0.31% | -0.14% | |
| JPY | 0.08% | -0.74% | -0.48% | -1.58% | -0.99% | -0.82% | -0.62% | |
| CAD | 1.69% | 0.88% | 1.10% | 1.58% | 0.60% | 0.79% | 0.98% | |
| AUD | 1.10% | 0.28% | 0.50% | 0.99% | -0.60% | 0.18% | 0.40% | |
| NZD | 0.92% | 0.10% | 0.31% | 0.82% | -0.79% | -0.18% | 0.19% | |
| CHF | 0.74% | -0.09% | 0.14% | 0.62% | -0.98% | -0.40% | -0.19% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Related Articles
China's Conversation with Walmart: Are Retail CEOs Underestimating the Impact of Tariffs?
TradingKey - According to Bloomberg, this week Chinese authorities summoned Walmart officials due to the retailer pressuring some Chinese suppliers to lower prices in order to absorb the costs associated with U.S. tariffs.
Facing a Trumpcession: What Options Remain for Stock Investors?
TradingKey - While Wednesday's CPI data came in below expectations, alleviating some market fears, intra-day trading remained volatile, indicating that investors are still seeking more data for further assessment.
What Is Ethereum? Why Has the "Surpass Bitcoin" Slogan Disappeared? Is ETH Still Worth Investing In?
Ethereum is the world's largest smart contract platform, so many people insist that Ethereum's market value will surpass Bitcoin in the future. However, no one is talking about this topic anymore. Why has such a change occurred? What happened to Ethereum? What is its future?
[IN-DEPTH ANALYSIS] Salesforce: Will Salesforce Be Replaced by AI or Leverage It to Lead?
AI Opportunity and Risk: Salesforce’s decade-long AI investment and Agentforce leverage its clients, but AI could reduce seat demand and commoditize offerings.Moat vs. Agility: High switching costs secure its enterprise base, yet its size may slow adaptation to AI-native competitors.
