- GBP/USD encounters immediate resistance at 1.3445, marking the peak since February 2022.
- The 14-day relative strength index (RSI) rises above 50, reinforcing the bullish sentiment.
- Initial support is identified at the 9-day EMA of 1.3339.
The GBP/USD pair is expected to continue its positive trend for the third day in a row, hovering around 1.3430 during the Asian trading session on Wednesday. A look at the daily charts indicates an ongoing bullish streak, as the pair remains within an upward channel.
As it stands, the GBP/USD is pushing past the nine-day EMA, which hints at a strong short-term momentum. Plus, the recent uptick in the RSI above 50 further bolsters the bullish outlook.
The pair is set to face key resistance at 1.3445, its highest mark since February 2022. A move above this threshold could significantly improve market sentiment, paving the way for exploration of levels near the upper limit of the 1.3890 ascending channel.
On the flip side, the GBP/USD pair eyes initial support at the 9-day EMA of 1.3339, followed closely by the support level at 1.3270 in the upward channel. If the pair drops beneath this critical area, it could weaken bullish sentiment, leading to increased downward pressure, with potential testing of the 50-day EMA at 1.3147.
Moreover, a decline could dampen medium-term momentum, pushing the pair down toward the monthly lows of 1.2708, last seen on April 7.
GBP/USD: Daily Charts
British pound prices today
The following table presents the fluctuation of the British pound (GBP) against major currencies today. Notably, the pound is currently strongest against the US dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.43% | -0.30% | -0.56% | -0.19% | -0.43% | -0.41% | -0.75% | |
| EUR | 0.43% | 0.13% | -0.16% | 0.22% | 0.02% | 0.02% | -0.32% | |
| GBP | 0.30% | -0.13% | -0.29% | 0.11% | -0.10% | -0.10% | -0.47% | |
| JPY | 0.56% | 0.16% | 0.29% | 0.36% | 0.13% | 0.14% | -0.20% | |
| CAD | 0.19% | -0.22% | -0.11% | -0.36% | -0.24% | -0.20% | -0.57% | |
| AUD | 0.43% | -0.02% | 0.10% | -0.13% | 0.24% | 0.01% | -0.34% | |
| NZD | 0.41% | -0.02% | 0.10% | -0.14% | 0.20% | -0.01% | -0.36% | |
| CHF | 0.75% | 0.32% | 0.47% | 0.20% | 0.57% | 0.34% | 0.36% |
The heatmap illustrates the changes among major currencies. The base currency is selected from the left column, while the target currency is along the top row. For example, picking the British pound along the side and moving horizontally to US dollars shows the rate change in that specific box, representing GBP (base) against USD (quote).
