Created
: 2024.10.25
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
GBP/USD Price Forecast: Climbs on UK fiscal changes, stalls at 100-day SMA
World FX news
Breaking news
GBP/USD Price Forecast: Climbs on UK fiscal changes, stalls at 100-day SMA
New
2024.10.25 00:17
2024.10.25 00:17
2024.10.25 00:17
- GBP/USD bounces off two-month low of 1.2907, testing resistance near the 100-day SMA at 1.2964.
- Sellers maintain control as momentum points downward, with key support at 1.2900 and the 200-day SMA at 1.2800.
- A move above 1.3000 could open the door for a test of 1.3102, with further resistance at the 50-day SMA at 1.3140.
The Pound Sterling recovered some ground against the Greenback after UK GILTS yields jumped after Chancellor Reeves confirmed that a change to UK fiscal rules would help fund GBP 20 billion in investment. At the time of writing, the GBP/USD trade was 1.2974, up by 0.41%.
GBP/USD Price Forecast: Technical outlook
The GBP/USD bounced off the bottom trendline of an ascending channel after hitting a two-month low of 1.2907. Since then, the pair recovered some ground and hit a high of 1.2987, before struggling to sustain the advance above the 100-day Simple Moving Average (SMA) at 1.2964.
Momentum shows sellers are in charge, even though the Relative Strength Index (RSI) aimed slightly up but so far failed to clear the latest peak. Therefore, the path of least resistance is tilted to the downside.
The first support for GBP/USD would be 1.2900. Once surpassed, sellers could push prices toward the 200-day SMA at 1.2800.
On the other hand, a bullish continuation could happen if GBP/USD climbs above 1.3000 and clears the October 15 high at 1.3102. Further upside lies at the 50-day SMA at 1.3140.
GBP/USD Price Chart - Daily
British Pound PRICE Today
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 | -0.16% | -0.31% | -0.59% | 0.09% | 0.06% | -0.03% | -0.02% | |
| EUR | 0.16% | -0.16% | -0.43% | 0.25% | 0.21% | 0.12% | 0.12% | |
| GBP | 0.31% | 0.16% | -0.28% | 0.40% | 0.36% | 0.27% | 0.28% | |
| JPY | 0.59% | 0.43% | 0.28% | 0.68% | 0.65% | 0.53% | 0.57% | |
| CAD | -0.09% | -0.25% | -0.40% | -0.68% | -0.03% | -0.13% | -0.12% | |
| AUD | -0.06% | -0.21% | -0.36% | -0.65% | 0.03% | -0.08% | -0.08% | |
| NZD | 0.03% | -0.12% | -0.27% | -0.53% | 0.13% | 0.08% | 0.01% | |
| CHF | 0.02% | -0.12% | -0.28% | -0.57% | 0.12% | 0.08% | -0.01% |
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).
Last updated
: 2024.10.25
Related articles
US Dollar declines on profit-taking despite strong data
4 minutes agoMexican Peso holds steady against US Dollar despite inflation uptick
44 minutes agoEUR/GBP Price Analysis: Range-bound pair, with mixed technical outlook
2024.10.25 00:57GBP/USD Price Forecast: Climbs on UK fiscal changes, stalls at 100-day SMA
2024.10.25 00:16EUR/GBP pressured on speculation the ECB is sharpening its sword
2024.10.24 23:36USD/JPY corrects to near 152.00, more upside likely amid BoJ rate hike uncertainty
2024.10.24 23:02
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.
Was this article helpful?
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].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
US Dollar declines on profit-taking despite strong data
The US Dollar Index (DXY), which measures the value of the USD against a basket of six currencies, retreated on Thursday, giving up some of the gains accumulated during a solid week marked by a stellar performance.
New
2024.10.25 03:16Mexican Peso holds steady against US Dollar despite inflation uptick
Mexican Pesos remains firm against the Greenback during the North American session on Thursday amid an improvement in risk appetite.
New
2024.10.25 02:36EUR/GBP Price Analysis: Range-bound pair, with mixed technical outlook
The EUR/GBP pair has been trading in a narrow range over the past few days, with minimal price fluctuations.
New
2024.10.25 00:57GBP/USD Price Forecast: Climbs on UK fiscal changes, stalls at 100-day SMA
The Pound Sterling recovered some ground against the Greenback after UK GILTS yields jumped after Chancellor Reeves confirmed that a change to UK fiscal rules would help fund GBP 20 billion in investment.
New
2024.10.25 00:16EUR/GBP pressured on speculation the ECB is sharpening its sword
EUR/GBP trades at two-year lows in the 0.8320s on Thursday, having fallen a quarter of a percent on the day mainly due to a softer Euro (EUR).
New
2024.10.24 23:36USD/JPY corrects to near 152.00, more upside likely amid BoJ rate hike uncertainty
The USD/JPY pair falls to near 152.00 in Thursday's North American session after refreshing a 12-week high near 153.20 on Wednesday.
New
2024.10.24 23:02Sanctions risks on Palladium reignite buying activity - TDS
CTA trend followers are adding to their Palladium longs as price action triggers uptrend signals, TDS' Senior Commodity Strategist Daniel Ghali notes.
New
2024.10.24 23:01BoE's Mann: Service prices still have a long way to go
Bank of England's policymaker Catherine Mann suggested that prices in the services sector still remain elevated.
New
2024.10.24 22:23Fed's Hammack: Reasonable to expect more disinflation
Federal Reserve Bank of Cleveland President Beth Hammack argued on Thursday that while inflationary pressures have been easing, they have not yet reached the desired levels.
New
2024.10.24 22:16US: Initial Jobless Claims increased less than expected last week
US citizens filing new applications for unemployment insurance rose to 227K for the week ending October 18, as reported by the US Department of Labor (DoL) on Thursday.
New
2024.10.24 21:36Disclaimer:
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
