- GBP/USD might encounter initial resistance at the 9-day EMA of 1.3501.
- The 14-day relative strength index remains above 50, supporting the bullish trend.
- The primary support level is at the bottom of the ascending channel near 1.3410.
The GBP/USD pair is moving up for the second session in a row, hovering around 1.3500 during Asian trading hours on Friday. A bullish tendency is evident, especially as technical analysis on the daily chart shows that the pair is within an ascending channel.
Moreover, the 14-day RSI is above 50, reinforcing the bullish sentiment. Still, it’s worth noting that the GBP/USD is currently below the nine-day EMA, which indicates that short-term price momentum may not be particularly strong.
There’s immediate resistance at the 9-day EMA of 1.3501. If the price breaks above this level, it could boost short-term momentum and target the resistance at 1.3632, which is the highest point since February 2022, reached on June 13th. A breakout here could lead to further exploration near the upper boundary of the 1.3750 ascending channel.
On the downside, the GBP/USD pair is expected to find significant support at the lower end of the upward channel around 1.3410, followed by the 50-day EMA at 1.3363. A successful break below this critical support zone would likely weaken the medium-term price momentum and could push the pair down towards the 10-week low of 1.3139 seen on May 12th.
GBP/USD: Daily Charts
British pound prices today
The table below outlines the changes in the British pound (GBP) against several major currencies today. Notably, the British pound has shown strength against the US dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.30% | -0.20% | -0.16% | -0.16% | -0.33% | -0.20% | -0.11% | |
| EUR | 0.30% | 0.08% | 0.13% | 0.14% | 0.14% | 0.12% | 0.21% | |
| GBP | 0.20% | -0.08% | 0.14% | 0.07% | 0.07% | 0.01% | 0.13% | |
| JPY | 0.16% | -0.13% | -0.14% | 0.06% | -0.17% | -0.18% | 0.00% | |
| CAD | 0.16% | -0.14% | -0.07% | -0.06% | -0.13% | -0.26% | 0.06% | |
| AUD | 0.33% | -0.14% | -0.07% | 0.17% | 0.13% | 0.25% | 0.06% | |
| NZD | 0.20% | -0.12% | -0.01% | 0.18% | 0.26% | -0.25% | 0.09% | |
| CHF | 0.11% | -0.21% | -0.13% | -0.00% | -0.06% | -0.06% | -0.09% |
The heatmap displays the rate of change among major currencies. The base currency is selected from the left column, and the target currency is chosen from the top row. For instance, selecting the British pound from the left and the US dollar from the top indicates the rate of change in the corresponding box, which represents GBP/USD.
