- GBP/USD could approach 1.3632, marking the highest level since February 2022.
- The 14-day relative strength index has gone above 50, indicating a prevailing bullish sentiment.
- The primary support is identified at the 9-day EMA of 1.3552.
The GBP/USD currency pair has bounced back from its daily losses, trading around 1.3570 during Monday’s Asian session. However, this bullish trend might be slightly tempered as the technical analysis reveals the pair is navigating through an upward channel pattern.
Currently, the GBP/USD is positioned above the nine-day exponential moving average (EMA), which suggests robust short-term price momentum. Moreover, the 14-day relative strength index (RSI) sitting above 50 reinforces the presence of a bullish bias.
If the GBP/USD makes a successful recovery within this ascending channel, it might challenge the resistance at 1.3632, a level it last attained on June 13, which is also the highest since February 2022.
On the flip side, one should watch for potential support at the 9-day EMA level of 1.3552, followed by a weighty 50-day EMA at 1.3346. If the pair drops below these thresholds, it could weaken both short- and medium-term momentum, possibly testing a 10-week low at 1.3063 observed on April 14th.
GBP/USD: Daily Charts
British pound prices today
The following table displays the fluctuations of the British pound (GBP) against major currencies today, indicating that the pound was the strongest versus the Canadian dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.18% | -0.07% | -0.36% | -0.06% | -0.24% | -0.18% | -0.10% | |
| EUR | 0.18% | 0.00% | -0.18% | 0.14% | 0.07% | 0.02% | 0.09% | |
| GBP | 0.07% | -0.00% | -0.18% | 0.14% | 0.07% | 0.01% | 0.09% | |
| JPY | 0.36% | 0.18% | 0.18% | 0.31% | -0.18% | -0.18% | -0.15% | |
| CAD | 0.06% | -0.14% | -0.14% | -0.31% | -0.12% | -0.13% | -0.05% | |
| AUD | 0.24% | -0.07% | -0.07% | 0.18% | 0.12% | -0.06% | 0.03% | |
| NZD | 0.18% | -0.02% | -0.01% | 0.18% | 0.13% | 0.06% | 0.08% | |
| CHF | 0.10% | -0.09% | -0.09% | 0.15% | 0.05% | -0.03% | -0.08% |
The heatmap illustrates the changes among major currencies. The base currency is taken from the left column, while the estimated currency is from the top row. For instance, selecting the British pound alongside the US dollar will show the rate of change in that corresponding box.
