The GBP/USD pair continues its gains for the second session in a row, trading around the 1.3560 level during Asian hours on Tuesday. Technical analysis on the daily chart indicates a continuation of the bullish bias. The 14-day RSI reached 69.29, near the overbought zone. If the RSI extends into the overbought zone, the pair may consolidate before the trend resumes.
The GBP/USD pair is holding above the bullish nine-day Exponential Moving Average (EMA) and the 50-day EMA, maintaining its bullish bias. The short-term average remains above the medium-term scale, maintaining upward pressure.
The GBP/USD pair reached a new three-month high of 1.3562 during the early Asian hours. Further gains could lead the pair to target a six-month high of 1.3726, followed by 1.3788, the highest level since October 2021.
Momentum remains steady with price action holding above the bullish averages, but extended conditions may limit the next leg. The GBP/USD pair could find immediate support at the 9-day moving average at 1.3496, followed by the 50-day moving average at 1.3375. A break below the medium-term average would 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 strongest against the Japanese yen.
| US dollars | euro | GBP | JPY | Canadian | Australian dollar | New Zealand dollar | Swiss franc | |
|---|---|---|---|---|---|---|---|---|
| US dollars | -0.09% | -0.09% | 0.00% | -0.00% | -0.20% | -0.22% | -0.07% | |
| euro | 0.09% | -0.00% | 0.09% | 0.09% | -0.11% | -0.15% | 0.03% | |
| GBP | 0.09% | 0.00% | 0.11% | 0.09% | -0.11% | -0.14% | 0.02% | |
| JPY | 0.00% | -0.09% | -0.11% | -0.00% | -0.20% | -0.24% | -0.06% | |
| Canadian | 0.00% | -0.09% | -0.09% | 0.00% | -0.20% | -0.24% | -0.06% | |
| Australian dollar | 0.20% | 0.11% | 0.11% | 0.20% | 0.20% | -0.04% | 0.13% | |
| New Zealand dollar | 0.22% | 0.15% | 0.14% | 0.24% | 0.24% | 0.04% | 0.17% | |
| Swiss franc | 0.07% | -0.03% | -0.02% | 0.06% | 0.06% | -0.13% | -0.17% |
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.)
