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 | 522 dagar sedan

 

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. 

 

Förordning: CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa)
read more
ATFX Market Outlook 29th July 2025

ATFX Market Outlook 29th July 2025

U.S. stocks finished mixed on Monday, with the S&P 500 advancing for a sixth consecutive session to reach another record close. The Nasdaq also hit a new all-time closing high amidst volatile trading, as investors gauged the impact of the US-EU trade agreement and prepared for key events later this week. The Dow Jones declined by 0.14%, while the Nasdaq increased by 0.33%
ATFX | 21h 22minuter sedan
Markets Rise on Extended US-China Tariff Pause

Markets Rise on Extended US-China Tariff Pause

Markets rallied as the US and China are set to extend their tariff pause by 90 days, boosting risk sentiment and weakening the US Dollar. Gold slid below $3,350, while GBP and EUR gained. AUD held steady ahead of key CPI data. Investors now await the FOMC meeting and US job reports for further direction.
Moneta Markets | 1 dag sedan
ATFX Market Outlook 28th July 2025

ATFX Market Outlook 28th July 2025

In June, US core durable goods orders fell unexpectedly, while shipments rose slightly, signalling a slowdown in business investment for Q2. S&P Global PMI also indicated softer manufacturing activity. Nevertheless, optimism surrounding a potential US-EU trade deal boosted sentiment, pushing the S&P 500 and Nasdaq to record close on Friday.
ATFX | 1 dag sedan
ATFX ​Market Outlook 25th July 2025

ATFX ​Market Outlook 25th July 2025

US initial jobless claims dropped to a three-month low last week, while June’s new home sales showed a slight rise. The S&P 500 and Nasdaq closed at record highs on Thursday, boosted by strong earnings from Google’s parent, Alphabet, which sparked optimism in other major AI-related stocks. Conversely, Tesla shares fell after the company reported disappointing earnings.
ATFX | 4 dagar sedan
GBPUSD recovery faces key test

GBPUSD recovery faces key test

GBPUSD retraces half of July’s losses, edges above short-term SMAs. Technical risk is skewed to the upside, but another challenge looms near 1.3635.
XM Group | 5 dagar sedan