GBP/USD Price Analysis: Ascending on weak US Dollar, bullish daily close above 1.2800 expected.

GBP/USD gains over 0.20% following US jobs report showing June gains but revising down April and May figures, and nears key resistance at 1.2660/75 with bullish technical outlook as it nears key resistances such as 1.2894 (YTD high), 1.2900 (1st July 2023 High), or even approaching 1.300.00 in 2024-2025.
Support points: 1.2733 (July 4 low), 1.2709 (April 8 high), 1.2700, and 1.2673 (50-DMA).

GBP/USD gained over 0.20% on Friday following June US jobs data that showed more jobs were added than anticipated; however, their revision lower suggests labor market weakness further weakened further than previously estimated. Now trading above its opening price at 1.2790 after hitting daily low of 1.2752, majors recorded gains of more than 0.203% during their trading session on Friday.

GBP/USD Price Analysis: Technical Outlook

The GBP/USD has fluctuated around 1.2800 psychological level today, flirting with closing above key resistance trendlines that had recently served as support at around 1.2660/75.

Momentum remains bullish as indicated by the Relative Strength Index (RSI), and has continued to advance since breaching 50 on June 2.

GBP/USD’s path of least resistance lies to the upside; buyers achieving a daily close above 1.2800 would open the way towards challenging this year-to-date’s high of 1.2894; further uptick is possible should buyers surpass that mark and break through it, followed by resistance at 1.2900 before July 27’s high of 1.2995 just short of reaching 1.3000.

Sellers anticipate a bearish reversal when the exchange rate falls below its daily low of 1.2733 from July 4; this would expose April’s 8 high which turned support at 1.2709 before breaking through to 1.2700 before further losses exposed the 50-day moving average (DMA), at 1.2673.

GBP/USD Price Action Daily Chart

British Pound PRICE Aujourd’hui
This table displays the percentage change between British Pound (GBP) and other major currencies today, including Canada Dollar as the prime example. GBP performed best against this currency pair.

EUR and USD-denominated currencies remained flat over this time. That includes euros (EUR), GBPs (GBP), JPY’s, and CA’s respectively, along with currencies like JPY (0.19%-0.06%-0.12% =0.10% and 0.12 vs JPYs respectively): each offering 0.19 and 0.12% losses before 0.13 is subtracted off with any gain due to currency translation rates; EUR =0 but GBP for example was at 0.12% but JPY would offer 0.12%-0.06=0.16% =0.19%-0.18%-0.19%=0.46%=0.14%=0.19%-0.16%=-0.17%=0.06%=0.07%-0.19% =0.14%=0.36%/0.66%=0.06% =0.19%=0.46%=0.19% =0.19US=0.19%-0.295%=>0.46 JPY=0.19%-0.29%-0.16%=-0.19%=-0.16%=0.19%-0.14% =0.56%=0.36%=0.56%=0.36%=0.36%=0.466=0.19%-0.34%=0.4 60%=0.39 =0.394%=0.456 =0.369 for CA =0.14 =0.14 1/49%=0.36%0.4 6/6 =0.08%=0.34 40.6 =0.391%-0.77 =0.395% of 0.12 so 226 =0.395%= 0.12% for 0.12%- 0.12% ‘0.06% 1-17=0.29 ‘ 0.12%… =0.368% [0.06% (0.17) 11.7= 0.6% @0.06/8”0.34% for 0.12%- 0.065%- 0.4 3.6 4/6 8 =0.34%-1.419%=>0.2 934=4.4 =0.996 66.468 8/84%- 3.4 =3] 3 = 3 9 +0.4=3.9.4 ‘0.34% 0.41 9 (0.394/49%- 0.6 +0.4 =0.7
Heat maps visualize percentage changes among major currencies against each other. You can choose your base currency from the left column while picking your quote currency from the top row – for instance if selecting British Pound as your starting currency and moving along its horizontal line towards US Dollar as your quote currency then percentage change displayed will reflect GBP (base)/USD (quote).