GBP/USD bounces off 200-day SMA
GBP/USD rebounded off the 200-day simple moving average (SMA), which coincides with the 1.2595 support level and the medium-term ascending trend line. The market has still been developing within a consolidation area since November 21, despite the break to the upside that it had on March 8, which seems to be a failed signal.
Technically, the MACD oscillator is moving beneath its trigger and zero lines; however, the RSI is pointing upwards in the bearish territory.
If the market continues to the upside, it could find immediate resistance at the 50-day SMA at 1.2680 ahead of the 20-day SMA at 1.2730. Surpassing these lines, the upper boundary of the channel may halt bullish actions at 1.2820.
On the flip side, a successful dive below the uptrend line and the 200-day SMA, then the market may switch to a bearish one, hitting the 1.2495-1.2520 support region. Even lower, the 1.2370 barricade could be the next level to look for.
In a nutshell, GBP/USD returns to a neutral phase after the climb towards the six-month peak of 1.2892 and to endorse the bullish outlook again, traders need to wait for a climb beyond the aforementioned level.
US Yields Rise Despite Buybacks; Eyes on ECB Hike
GBPUSD (4H) recovery holds above 1.3550, 100-SMA remains key hurdle
Yen Hits 6-Month High, Volatility Returns After North American Holiday.
US Payrolls Hit 5-Month High as Markets Await CPI This Week.
Week Ahead: US Jobs Strengthen Fed Hike Bets as CPI Looms
Fed Remarks Dampen Rate Hike Hopes Ahead of NFP Release
Gold and Oil Rise as Central Bank Signals Drive Currency Markets | 3rd September, 2026
