GBP/USD FORECAST – TECHNICAL ANALYSIS
GBP/USD fell on Wednesday, breaching its 50-day simple moving average. A confirmation of this breakdown with a daily close below the indicator might escalate selling pressure, potentially leading to a descent toward trendline support near 1.2600. On continued weakness, all eyes will be on the 200-day simple moving average around 1.2570.
In the event of a market turnaround, the first challenge for the bulls will be to regain control of the 50-day SMA located at 1.2675. Accomplishing this task could spark a rally towards trendline resistance at 1.2720. Beyond this threshold, sustained strength could reinforce upward momentum, laying the groundwork for a climb toward 1.2830.
Want to stay ahead of the pound‘s next major move? Access our quarterly forecast for comprehensive insights. Request your complimentary guide now to stay informed on market trends!
Recommended by Diego Colman
Get Your Free GBP Forecast
GBP/USD PRICE ACTION CHART
GBP/USD Chart Created Using TradingView
EUR/GBP FORECAST – TECHNICAL ANALYSIS
EUR/GBP has been locked in a persistent downtrend since last November, carving lower highs and lower lows in the process. This pullback took prices to an almost six-month low around 0.8500 earlier this month, down about 3% from the high reached late last year. Nevertheless, a tentative rebound appears to be underway.
Following the recent upturn, the pair is steadily approaching overhead resistance at 0.8575. A decisive break above this barrier is crucial for the euro to establish a more sustained recovery, potentially opening a path toward the 200-day simple moving average at 0.8610.
Conversely, if EUR/GBP is turned away from its current position and takes a downward turn, support looms at 0.8530, followed by 0.8500. Prices are expected to find a floor around these levels during a retracement before a possible shift in direction, yet a breakdown could prompt sellers to initiate a push towards 0.8450.
Disheartened by trading losses? Empower yourself and refine your strategy with our guide, “Traits of Successful Traders.” Gain access to crucial tips to help you avoid common pitfalls and costly errors.
Recommended by Diego Colman
Traits of Successful Traders
EUR/GBP PRICE ACTION CHART
EUR/GBP Char Creating Using TradingView
GBP/JPY FORECAST – TECHNICAL ANALYSIS
Following its climb to multi-year highs above the 191.00 mark earlier this week, GBP/JPY has started to retreat, edging towards trendline support at 190.20 by Wednesday. Bulls must staunchly defend this technical zone to avert a deeper retracement; failure to do so could provoke a descent towards 188.50. Further losses from this juncture could shift attention to the 50-day simple moving average.
On the other hand, if buyers mount a comeback and spark a rebound, resistance is positioned at 191.30. Overcoming this obstacle might pose a challenge for the bullish camp, but a successful breakout could fuel a rally toward the psychological 193.00 level. Additional gains beyond this point would turn the market’s gaze directly to 196.00, the 2015 peak.
Want to understand how retail positioning may impact GBP/JPY’s trajectory? Our sentiment guide holds all the answers. Don’t wait, download your free guide today!
| Change in | Longs | Shorts | OI |
| Daily | -12% | 1% | -3% |
| Weekly | -8% | 1% | -1% |
GBP/JPY PRICE ACTION CHART
