Created
: 2024.08.21
2024.08.21 13:42
GBP/USD halts its four-day winning streak, trading around 1.3020 during Wednesday's Asian session. The daily chart analysis shows the pair is trending upwards within an ascending channel pattern, suggesting a bullish bias.
The Moving Average Convergence Divergence (MACD) indicator suggests bullish momentum, as the MACD line is above the centreline and shows divergence above the signal line. Additionally, the 14-day Relative Strength Index (RSI) consolidates slightly below 70 level, suggesting a potential correction in the short term.
For resistance, the GBP/USD pair is testing a yearly high of 1.3044 level, reached on July 17. A break above this level could lead the pair to explore the region around the upper boundary of the ascending channel at 1.3100 level.
On the downside, the GBP/USD pair may navigate the area around the lower boundary of the ascending channel at the 1.2950 level, followed by the nine-day Exponential Moving Average (EMA) at the 1.2924 level. A break below the latter could guide the pair toward the throwback support at the 1.2615 level, noted in June.
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Canadian Dollar.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | 0.10% | 0.08% | 0.29% | -0.04% | 0.04% | 0.24% | 0.03% | |
EUR | -0.10% | -0.03% | 0.16% | -0.13% | -0.04% | 0.12% | -0.09% | |
GBP | -0.08% | 0.03% | 0.23% | -0.09% | -0.03% | 0.16% | -0.04% | |
JPY | -0.29% | -0.16% | -0.23% | -0.33% | -0.24% | -0.11% | -0.27% | |
CAD | 0.04% | 0.13% | 0.09% | 0.33% | 0.09% | 0.24% | 0.05% | |
AUD | -0.04% | 0.04% | 0.03% | 0.24% | -0.09% | 0.15% | -0.03% | |
NZD | -0.24% | -0.12% | -0.16% | 0.11% | -0.24% | -0.15% | -0.19% | |
CHF | -0.03% | 0.09% | 0.04% | 0.27% | -0.05% | 0.03% | 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).
Created
: 2024.08.21
Last updated
: 2024.08.21
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy