Created
: 2024.09.21
2024.09.21 00:25
The Pound Sterling registered minimal gains versus the US Dollar during the North American session after reaching a two-and-a-half-year high of 1.3340 on an upbeat retail sales report in the UK. At the time of writing, the GBP/USD trades at 1.3282, a gain of 0.03%.
From a technical standpoint, the GBP/USD clashed with solid resistance as the pair reached the top of an ascending channel shy of testing 1.3350. Since then, the pair erased those gains, about to form a 'shooting star' candle, which opens the door for further losses.
Momentum remains bullish according to the Relative Strength Index (RSI). However, a negative divergence looms, which could spur a pullback in the pair.
If GBP/USD tumbles below 1.3250, further downside is seen. Once cleared, the next stop would be the September 6 peak at 1.3239, ahead of 1.3200. If surpassed, key support levels will be exposed, like the July 14, 2023, peak at 1.3142, followed by the September 11 low of 1.3001.
Conversely, if GBP/USD reclaims 1.3300, the first resistance would be the year-to-date (YTD) high of 1.3340 ahead of the March 1, 2022, pivot high at 1.3437.
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Japanese Yen.
USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
---|---|---|---|---|---|---|---|---|
USD | 0.20% | 0.10% | 1.21% | 0.19% | 0.45% | 0.40% | 0.39% | |
EUR | -0.20% | -0.11% | 1.05% | -0.03% | 0.23% | 0.21% | 0.20% | |
GBP | -0.10% | 0.11% | 1.15% | 0.10% | 0.36% | 0.33% | 0.32% | |
JPY | -1.21% | -1.05% | -1.15% | -1.01% | -0.77% | -0.81% | -0.80% | |
CAD | -0.19% | 0.03% | -0.10% | 1.01% | 0.25% | 0.22% | 0.22% | |
AUD | -0.45% | -0.23% | -0.36% | 0.77% | -0.25% | -0.01% | -0.02% | |
NZD | -0.40% | -0.21% | -0.33% | 0.81% | -0.22% | 0.01% | -0.00% | |
CHF | -0.39% | -0.20% | -0.32% | 0.80% | -0.22% | 0.02% | 0.00% |
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
: 2024.09.21
Last updated
: 2024.09.21
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