GBP

• GBP/USD gains ground to near 1.3360 in Friday’s early European session.
• The major pair remains capped below the key 100-day MA.
• The first upside barrier emerges at 1.3410; the initial support level is seen at 1.3300.

The GBP/USD pair trades in positive territory around 1.3360 during the early European session on Friday. The British Pound (GBP) gathers strength against the US Dollar (USD) on a weaker-than-expected US Nonfarm Payrolls (NFP) report.

Signs of a cooling US labor market have prompted financial markets to dial back expectations for a near-term interest rate hike from the US Federal Reserve (Fed), weighing on the Greenback and creating a tailwind for the major pair. Financial markets are now pricing in nearly a 52% chance of a US rate hike by September, down from 66% before the jobs data, according to the CME FedWatch tool.

Traders will closely watch the developments surrounding UK politics since Keir Starmer stepped down last week. Natixis analysts said while Andy Burnham’s commitment to fiscal discipline offers near-term support, markets will closely monitor future budgets for any signs that fiscal rules are being relaxed to finance higher public spending.

Technical Analysis:

In the daily chart, GBP/USD sits above the Bollinger middle band, keeping a modestly supported tone, while it remains capped by the 100-day simple moving average (SMA). The Relative Strength Index (RSI) at about 54 suggests mildly positive but not overextended momentum.

On the topside, initial resistance is located at the 100-day SMA near 1.3410, and a daily close above this barrier would open the door toward the upper Bollinger band around 1.3468. On the downside, immediate support aligns with the Bollinger middle band at 1.3300, ahead of the lower band near 1.3132, where a deeper pullback could attract dip-buying interest within the broader range.

Facts: The price bounced off the upper limit of 1:1 structure GBPUSD sits below the 200-period moving average from H4 interval Recommendation: Trade: Short position on GBPUSD at market price Target: 1.3160, 1.3083 Stop: 1.3404

Opinion: Looking at GBPUSD chart at the H4 interval, one can see that the price bounced off the key resistance today. The area near 1.3340 is marked with the upper limit of 1:1 structure, and 200-period moving average from the H4 interval. According to the Overbalance strategy, as long as the price sits below the aforementioned area, the main trend remains downward. We recommend going short GBPUSD at market price with two targets: 1.3160 and 1.3083. We also recommend placing a stop loss order at 1.3404. Source: xStation5

• GBP/USD attracts fresh sellers on Wednesday as traders await speeches from central bank chiefs.
• The broader technical setup favors bearish traders and backs the case for a further depreciation.
• A sustained strength beyond the  23.6% Fibo. level is needed to back the case for any recovery.

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England (BoE) Governor Andrew Bailey and Federal Reserve (Fed) Chair Kevin Warsh for a fresh impetus.

From a technical perspective, the GBP/USD pair has been struggling to make it through the 23.6% Fibonacci retracement level of the May-June downfall. This comes on top of the recent repeated failures near the 200-period Simple Moving Average (SMA) on the 4-hour chart and a breakdown below the 1.3300 mark, which, in turn, favors bearish traders. However, mixed momentum indicators warrant some caution before positioning for deeper losses.

In fact, the Relative Strength Index (RSI) is hovering near 52, while the Moving Average Convergence Divergence (MACD) is showing a fading positive bias. This, in turn, hints at limited upside while the GBP/USD pair remains capped by the clustered resistance overhead. In the meantime, the key support around 1.3139 remains the key structural floor, and a clear break below would open the door for a continuation of the broader downtrend.

On the topside, immediate resistance emerges at the 23.6% Fibo. level at 1.3260, with further barriers aligned at the 38.2% retracement around 1.3335 and the 200-period SMA at 1.3360, ahead of the 50.0% retracement near 1.3396. A sustained move beyond the said barriers would start to ease the broader bearish bias and pave the way for a more convincing recovery phase. However, a failure would leave the GBP/USD pair vulnerable to slide further.

GBP/USD 4-hour chart

• GBP/USD meets with a fresh supply and snaps a three-day winning streak to a one-week high.
• The US-Iran uncertainty and elevated Fed rate hike expectations help revive the USD demand.
• The mixed technical setup warrants some caution before placing aggressive directional bets.

The GBP/USD pair attracts some sellers during the Asians session on Tuesday and reverses a part of the previous day’s strong move up to a one-week top. Spot prices, for now, seem to have snapped a three-day winning streak and currently trade around the 1.3235-1.3230 region, down nearly 0.20% for the day.

The US Dollar (USD) regains some positive traction amid mixed signals on US-Iran talks and firming expectations that the US Federal Reserve (Fed) will hike interest rates in 2026. Furthermore, the UK political uncertainty ahead of a leadership contest is seen as undermining the British Pound (GBP) and exerting some downward pressure on the GBP/USD pair.

From a technical perspective, the recent repeated failures near the 200-period Simple Moving Average (SMA) on the 4-hour chart favor bearish traders. Moreover, spot prices retain a negative bias below the 1.3300 mark, though momentum indicators suggest that upside attempts could persist while the broader structure is still constrained by the overhead supply zone.

In fact, the Relative Strength Index (RSI) hovers near 54 while the Moving Average Convergence Divergence (MACD) histogram remains modestly positive. Hence, any further decline is more likely to find a decent support near the 1.3200 mark, below which the GBP/USD pair could aim to retest the year-to-date low, around the 1.3140 region, and decline further.

On the topside, initial resistance is located near the 1.3300 round figure, which is followed by the 200-period SMA at 1.3366. A sustained strength above this barrier would start to ease the broader bearish bias and open the way for a more convincing recovery phase, though a failure would leave the GBP/USD pair vulnerable to resume its downtrend.

(The technical analysis of this story was written with the help of an AI tool.)

GBP/USD 4-hour chart

US Dollar Price Today

The table below shows the percentage change of US Dollar (USD) against listed major currencies today. US Dollar was the strongest against the Euro.

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 US Dollar from the left column and move along the horizontal line to the Japanese Yen, the percentage change displayed in the box will represent USD (base)/JPY (quote).

• GBP/USD remains flat at 1.3200, halfway through the last two weeks’ trading range.
• Investors’ appetite for risk remains subdued amid a fresh escalation of the US-Iran hostilities this weekend.
• Technical indicators are showing initial signs of bottoming at the 1.3050 area.

The British Pound (GBP) is practically flat against the US Dollar (USD) on Monday, with Pound bulls subdued amid rising geopolitical tensions and the UK’s political impasse, while the safe-haven USD treads water, awaiting an array of US employment indicators. The GBP/USD pair remains steady at 1.3200 halfway through the last two weeks’ trading range.

Investors are wary of risk at the week’s opening, despite the latest agreement to end a series of attacks in the Strait of Hormuz this weekend, which had shaken a precarious ceasefire. US and Iranian negotiators have also agreed to restart peace talks this week, in the latest attempt to end a four-month-long conflict that threatened to collapse the global economy.

In the UK, political uncertainty is likely to keep the Pound’s upside attempts limited until the next Prime Minister starts to define his political agenda. In the US, on the other hand, a string of employment indicators, including Thursday’s key Nonfarm Payrolls report, are expected to shed further light on the Federal Reserve’s monetary policy path.

Technical Indicator: Pound shows initial signs of bottoming

GBP/USD trades at 1.3210, with the bearish bias still in place after a nearly 3% decline in the last two months. Recent price action, however, shows signs of a potential bottoming in the mid-range of the 1.3100s, with momentum indicators in 4-hour charts turning bullish.

The 4-hour Relative Strength Index (14) around 50.7 hints at neutral momentum, and the Moving Average Convergence Divergence (MACD), hovering slightly above zero with a modestly positive line, shows an incipient upside pressure ahead of key resistance levels.

Bulls are likely to be tested at the top of the last two weeks’ horizontal channel, near 1.3270 (June 22 high). Further up the 1.3320 area (June 8, 11 lows, and June 18 high) is likely to pose some resistance ahead of the mid-June highs at the 1.3440-1.3450 area.

On the downside, session lows at 1.3195 are holding bears on Monday, ahead of last week’s horizontal floor at 1.3140, which guards the path toward the November 2025 lows near the 1.3000 psychological level.

Pound Sterling 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.

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).