- GBP/USD approaches the lower boundary of 1.3450 within an ascending channel.
- The 14-day relative strength index is beneath 50, suggesting a bearish outlook.
- Immediate resistance is noted at the 50-day EMA at 1.3491.
The GBP/USD pair experienced four consecutive days of gains, trading around 1.3460 during the early hours in Asia on Monday. A shift towards bearishness is evident, as technical analysis indicates the pair may soon drop below its upward channel pattern.
Moreover, the 14-day relative strength index (RSI) sits below the 50 mark, which strengthens the bearish sentiment. Additionally, the GBP/USD is currently positioned below the nine-day index moving average (EMA), indicating weaker short-term price momentum.
Testing vital support at the lower edge of the ascending channel, which is around 1.3450, the pair shows signs that a break below could confirm an active bearish trend. This could exert downward pressure, eyeing the month’s low of 1.3333 from September 3, and even the lower mark of 1.3141 recorded on May 12.
On the flip side, the GBP/USD aims for immediate resistance at the 50-day EMA, currently at 1.3491, with the nine-day EMA at 1.3531 following closely. If the pair breaks above these benchmarks, it could enhance the short- and medium-term price momentum, potentially approaching a two-month peak of 1.3726 attained on September 17, and even a high of 1.3788 from July 1.
GBP/USD: Daily Charts
Today’s Sterling price is pound
The table below outlines the exchange rates of the British pound (GBP) against major currencies today, showing the pound as the weakest against the US dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.15% | 0.10% | 0.27% | 0.13% | 0.10% | 0.17% | 0.34% | |
| EUR | -0.15% | -0.04% | 0.07% | -0.04% | -0.10% | -0.01% | 0.16% | |
| GBP | -0.10% | 0.04% | 0.06% | 0.02% | -0.03% | 0.05% | 0.25% | |
| JPY | -0.27% | -0.07% | -0.06% | -0.15% | -0.20% | -0.10% | 0.07% | |
| CAD | -0.13% | 0.04% | -0.02% | 0.15% | -0.05% | 0.04% | 0.22% | |
| AUD | -0.10% | 0.10% | 0.03% | 0.20% | 0.05% | 0.09% | 0.29% | |
| NZD | -0.17% | 0.01% | -0.05% | 0.10% | -0.04% | -0.09% | 0.16% | |
| CHF | -0.34% | -0.16% | -0.25% | -0.07% | -0.22% | -0.29% | -0.16% |
The heatmap displays the exchange rate changes among major currencies. The base currency selection is done from the left column, while the target currency is from the top row. For instance, selecting the British pound from the left and moving across to the US dollar shows the rate of change for GBP relative to USD.
