Created
: 2024.09.10
2024.09.10 23:53
The GBP/USD is on the backfoot after spiking to a daily high of 1.3107 after a solid UK jobs report, though it has retreated below the 1.31 handle as traders await the release of US inflation data. At the time of writing, the pair trades at 1.3052, down 0.17%
The GBP/USD fall toward the July 17 peak at 1.3044 could exert downward pressure on the pair and pave the way for further losses.
Momentum favors sellers in the short term. The Relative Strength Index (RSI) remains bullish, though its slope is aiming down and about to turn bearish, which could accelerate Sterling's fall against the Greenback.
In that scenario, the GBP/USD path of least resistance is tilted to the downside. The first support would be 1.3044, followed by the psychological figure of 1.3000. A breach or the latter will expose the 50-day moving average (DMA) at 1.2940, ahead of the 1.2900 mark.
Conversely, if buyers would like to regain control, they must clear the September 9 high at 1.3143 before having the chance of challenging the 1.3200 figure.
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Canadian Dollar.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | 0.14% | 0.14% | -0.40% | 0.35% | 0.24% | -0.03% | -0.23% | |
EUR | -0.14% | 0.00% | -0.52% | 0.20% | 0.09% | -0.22% | -0.38% | |
GBP | -0.14% | 0.00% | -0.52% | 0.17% | 0.11% | -0.21% | -0.36% | |
JPY | 0.40% | 0.52% | 0.52% | 0.71% | 0.62% | 0.32% | 0.15% | |
CAD | -0.35% | -0.20% | -0.17% | -0.71% | -0.12% | -0.38% | -0.56% | |
AUD | -0.24% | -0.09% | -0.11% | -0.62% | 0.12% | -0.29% | -0.46% | |
NZD | 0.03% | 0.22% | 0.21% | -0.32% | 0.38% | 0.29% | -0.17% | |
CHF | 0.23% | 0.38% | 0.36% | -0.15% | 0.56% | 0.46% | 0.17% |
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
: 2024.09.10
Last updated
: 2024.09.10
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