GBP/USD tries to strengthen bullish move above SMAs

GBP/USD rebounds off 200-day SMA; But still holds in trading range in short-term; RSI and MACD have weak momentum
XM Group | Před 625 dny

 

GBP/USD is making an attempt to climb above the short-term simple moving averages (SMAs), posting three straight green days but is still developing within the three-month trading range of 1.2520-1.2785.

According to technical oscillators, the MACD jumped above its trigger line but is still standing beneath its trigger line with weak momentum, while the RSI is moving sideways above its neutral threshold of 50. 

If the price extends above the SMAs, then it may again challenge the upper boundary of the channel at 1.2785 and the five-month high of 1.2825. Steeper increases may change the outlook to a bullish one, heading towards the 1.3000 psychological mark. 

On the other hand, a drop below the 200-day SMA at 1.2560 could open the way for a rest near the 1.2495-1.2520 support area, which encapsulates the lower boundary of the range, before meeting the medium-term uptrend line at 1.2370. Any losses below this line could switch the picture to bearish, hitting the 1.2180 barricade. 

All in all, GBP/USD has been trading within a consolidation area since November 24 and only a break above 1.2825 or below 1.2495 could clear the next direction in the near-term view. 

 

XM Group
Typ: Market Maker
Regulace: CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa)
read more
The pound fears the Bank of England

The pound fears the Bank of England

• The dollar risks weakening due to the stock market. • The Supreme Court calls tariffs taxes. • The pound fears a reduction in the repo rate. • Wage data does not help the yen.
FxPro | Před 3 dny
ATFX Market Outlook 5th November 2025

ATFX Market Outlook 5th November 2025

U.S. Senate failed to pass a temporary funding bill once again on Tuesday, setting the stage for a government shutdown that will soon surpass the 35-day record from late 2018 to early 2019. Wall Street closed sharply lower as major banks warned of potential corrections, reflecting growing concerns over stretched valuations.
ATFX | Před 4 dny
Shutdown Risks, Tariff Relief Shape FX Moves | 5th November 2025

Shutdown Risks, Tariff Relief Shape FX Moves | 5th November 2025

Markets traded mixed as a possible U.S. government shutdown and easing U.S.-China tensions shaped sentiment. Gold climbed above $4,000 on safe-haven demand, WTI oil slipped near $60 on rising inventories, and GBP/USD fell to 1.3040 amid BoE caution. China’s tariff cuts boosted optimism, but traders remain wary ahead of key U.S. data.
Moneta Markets | Před 4 dny
ATFX Market Outlook 4th November 2025

ATFX Market Outlook 4th November 2025

Gold prices steadied, hovering around the key $ 4,000-per-ounce mark amid a lack of clear direction. Traders are awaiting U.S. private-sector employment data later this week for further cues. Oil prices steadied as markets balanced OPEC+’s latest production increases against reports that the group may pause additional output hikes in the first quarter of 2026.
ATFX | Před 5 dny