The GBP/USD pair continues its losses for the second session in a row, trading around the 1.3420 level during the Asian hours on Monday. Technical analysis on the daily chart indicates that the 14-day Relative Strength Index (RSI) at 53 (neutral) has retreated from nearly overbought territory, indicating that momentum has slowed while remaining above the mid-line. The Relative Strength Index holds above 50, maintaining a modest bullish bias.
The nine-day exponential moving average (EMA) lies above the 50-day EMA, and maintains an upward slope as the price consolidates below the short-term average but stabilizes above the medium-term line. This indicates a shallow pullback within the prevailing uptrend. The short-term trend is pausing with the 9-day moving average holding steady, while the rising 50-day moving average supports the broader advance.
The immediate barrier is located at the nine-day moving average at 1.3455. A daily close above the short-term average would reassert bullish control and lead GBP/USD to test the three-month high of 1.3534, reached on December 24. Further gains could open a move towards a six-month high of 1.3726, followed by 1.3788, the highest level since October 2021.
On the downside, GBP/USD is falling towards the psychological level of 1.3400, followed by the 50-day moving average at 1.3363. A break below the medium-term price momentum will put bearish pressure on the pair to move into the area around the eight-month low at 1.3010.
The price of the British pound today
The table below shows the percentage change of the British Pound (GBP) against the major currencies listed today. The British pound was the weakest against the US dollar.
| US dollars | euro | GBP | JPY | Canadian | Australian dollar | New Zealand dollar | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| US dollars | 0.34% | 0.26% | 0.22% | 0.29% | 0.39% | 0.40% | 0.24% | |
| euro | -0.34% | -0.09% | -0.09% | -0.04% | 0.05% | 0.05% | -0.10% | |
| GBP | -0.26% | 0.09% | -0.02% | 0.04% | 0.14% | 0.13% | -0.02% | |
| JPY | -0.22% | 0.09% | 0.02% | 0.07% | 0.16% | 0.15% | 0.00% | |
| Canadian | -0.29% | 0.04% | -0.04% | -0.07% | 0.09% | 0.09% | -0.06% | |
| Australian dollar | -0.39% | -0.05% | -0.14% | -0.16% | -0.09% | -0.00% | -0.15% | |
| New Zealand dollar | -0.40% | -0.05% | -0.13% | -0.15% | -0.09% | 0.00% | -0.15% | |
| Swiss franc | -0.24% | 0.10% | 0.02% | -0.01% | 0.06% | 0.15% | 0.15% |
The heat map shows the percentage changes in major currencies versus each other. The base currency is chosen from the left column, while the counter currency is chosen from the top row. For example, if you select 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).
(The technical analysis for this story was written with the help of an artificial intelligence tool.)
