Created
: 2024.10.28
- 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: Bullish but stalls at 1.3000
Breaking news
GBP/USD Price Forecast: Bullish but stalls at 1.3000
New
2024.10.28 23:44
2024.10.28 23:44
2024.10.28 23:44
- GBP/USD consolidates below 1.3000, with RSI indicating a slight upward shift but lacking the strength to break recent peaks.
- A GBP/USD breakout above 1.3000 could target resistance at 1.3076 and 1.3102, followed by the 50-day SMA at 1.3140.
- Key support levels lie at the 100-day SMA at 1.2969 and last week's low of 1.2906, with further downside to the 200-day SMA at 1.2803.
The Pound Sterling recovered some ground against the US Dollar, though it failed for the second consecutive trading day to reach 1.3000. This exacerbated a pullback toward the current exchange rate, as the GBP/USD trades at 1.2981, slightly above 0.20% of its opening price.
GBP/USD Price Forecast: Technical outlook
The GBP/USD consolidates at around the bottom trendline of an ascending channel, shy of cracking 1.3000. Momentum has shifted slightly upwards, with the Relative Strength Index (RSI) slope pointing up. However, the RSI remains below the latest peak, which, once cleared, would mean that buyers are moving in.
If GBP/USD clears 1.3000, the next resistance would be the October 18 peak at 1.3076 before challenging the October 15 daily high at 1.3102. Once surpassed, the 50-day Simple Moving Average (SMA) would be up at 1.3140.
On the other hand, sellers need to clear the 100-day SMA at 1.2969 before challenging last week's lowest point at 1.2906. On further weakness, bears could drive the GBP/USD to test the 200-day SMA at 1.2803.
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 Japanese Yen.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.22% | -0.20% | -0.14% | 0.06% | 0.12% | -0.07% | -0.28% | |
| EUR | 0.22% | 0.12% | 0.02% | 0.28% | 0.42% | 0.14% | -0.05% | |
| GBP | 0.20% | -0.12% | 0.72% | 0.27% | 0.35% | 0.10% | 0.08% | |
| JPY | 0.14% | -0.02% | -0.72% | 0.26% | -0.39% | -0.69% | -0.62% | |
| CAD | -0.06% | -0.28% | -0.27% | -0.26% | 0.00% | -0.21% | -0.32% | |
| AUD | -0.12% | -0.42% | -0.35% | 0.39% | -0.01% | -0.31% | -0.45% | |
| NZD | 0.07% | -0.14% | -0.10% | 0.69% | 0.21% | 0.31% | -0.21% | |
| CHF | 0.28% | 0.05% | -0.08% | 0.62% | 0.32% | 0.45% | 0.21% |
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
: 2024.10.28
Related articles
NZD/JPY Price Analysis: Pair tumbles and eyes break of 90.00-92.00 range
2024.11.23 06:57NZD/USD Price Analysis: Pair fell to lowest level since November, bears command
2024.11.23 06:18Canadian Dollar loses momentum on Friday
2024.11.23 05:47Australian Dollar retreats as US Dollar gains momentum after S&P PMI data
2024.11.23 05:07US Dollar retraces from two-year high after PMI data, geopolitical uncertainty prevails
2024.11.23 03:08Mexican Peso slumps, shrugging off solid data
2024.11.23 02:37
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
NZD/JPY Price Analysis: Pair tumbles and eyes break of 90.00-92.00 range
The NZD/JPY pair has been on a downward trajectory for the past three days, shedding 0.27% on Friday's session to close near the 90.30 level.
New
2024.11.23 06:57Silver Price Forecast: XAG/USD surges above $31.00 as US yields fall
Silver price recovered some ground on Friday and reclaimed the $31.00 a troy ounce, boosted by falling US Treasury bond yields and despite a firm US Dollar.
New
2024.11.23 06:31NZD/USD Price Analysis: Pair fell to lowest level since November, bears command
The NZD/USD pair extended its losses on Friday, declining by 0.54% to 0.5830, its lowest level since early November.
New
2024.11.23 06:18Canadian Dollar loses momentum on Friday
The Canadian Dollar (CAD) waffled into the midrange on Friday, testing into the low side but ultimately getting hamstrung as Canadian data comes in mixed and gets overshadowed by sentiment-bolstering US data prints.
New
2024.11.23 05:47Australian Dollar retreats as US Dollar gains momentum after S&P PMI data
The AUD/USD declined just below 0.6500 as the market is focused on the US Dollar's strength.
New
2024.11.23 05:07Gold price reaches two-week peak as US yields fall, geopolitical tensions rise
Gold price rallies to a new two-week high on Friday during the North American session as US Treasury bond yields drop.
New
2024.11.23 04:55Dow Jones Industrial Average soars another 350 points
The Dow Jones Industrial Average (DJIA) has snapped its recent soft patch, extending its midweek bullish pivot into a firm Friday performance.
New
2024.11.23 03:56US Dollar retraces from two-year high after PMI data, geopolitical uncertainty prevails
In Friday's session, the US Dollar Index (DXY) declined slightly after reaching a new two-year high amidst geopolitical instability.
New
2024.11.23 03:08Mexican Peso slumps, shrugging off solid data
The Mexican Peso retreats for the third straight day versus the US Dollar, although economic data suggests the country's economy grew in the third quarter while inflation edged lower.
New
2024.11.23 02:37A (local) peak in Gold is now imminent - TDS
The downturn in Gold prices underscored by sharp liquidations from macro funds lined up exceptionally well with historical patterns surrounding drawdowns associated with macro fund liquidations from extreme levels, averaging between 7-10% over the last decade, TDS' Senior Commodity Strategist Daniel Ghali notes.
New
2024.11.23 01:02Disclaimer:
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
