GBP/USD Price Forecast: Tumbles below 1.3200 as US Dollar recovers
29.08.2024, 14:53

GBP/USD Price Forecast: Tumbles below 1.3200 as US Dollar recovers

  • GBP/USD momentum favors sellers, possibly targeting the July 17 high of 1.3043.
  • Further declines could test 1.3043; next major support at March 8 high of 1.2893.
  • For an upside reversal, buyers need to breach 1.3200, aiming for two-year high at 1.3266, then 1.3293 and 1.3437.

The GBP/USD extended its losses to two straight days and cleared the 1.3200 figure on the downside, as bears woke up after August’s 400-pip rally, crushed their expectations for lower prices. Despite the lack of UK economic data, the docket remains busy across the pond, with goodish data bolstering the Greenback. Therefore, the pair trades at 1.3151, down 0.30%.

GBP/USD Price Forecast: Technical outlook

The GBP/USD daily chart hints that in the short-term, the pair could aim and test the latest cycle high witnessed on July 17, at 1.3043. Momentum has shifted in sellers' favor as the Relative Strength Index (RSI) peaked at overbought territory. However, it has finally retraced below the 70 level, spurring the major’s two-day pullback to current exchange rates.

Although sellers are in charge, they must clear the 1.3100 figure and the psychological 1.3050 support before testing lower waters. If those two levels are taken out, the GBP/USD could aim for 1.3043, and on further weakness, the March 8 daily high emerges as the next demand zone at 1.2893.

On the other hand, if buyers want to counterattack, they must breach the 1.3200 figure. This will immediately expose the two-year high at 1.3266. A breach of the latter, and buyers could challenge the March 23, 2022, daily high at 1.3293 ahead of the March 1, 2022, swing high at 1.3437.

GBP/USD Price Action – Daily Chart

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the Swiss Franc.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   0.44% 0.25% 0.54% -0.02% -0.13% -0.21% 0.75%
EUR -0.44%   -0.19% 0.11% -0.48% -0.58% -0.65% 0.31%
GBP -0.25% 0.19%   0.31% -0.28% -0.39% -0.46% 0.53%
JPY -0.54% -0.11% -0.31%   -0.56% -0.68% -0.78% 0.23%
CAD 0.02% 0.48% 0.28% 0.56%   -0.10% -0.18% 0.82%
AUD 0.13% 0.58% 0.39% 0.68% 0.10%   -0.05% 0.95%
NZD 0.21% 0.65% 0.46% 0.78% 0.18% 0.05%   0.99%
CHF -0.75% -0.31% -0.53% -0.23% -0.82% -0.95% -0.99%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick 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).

 

© 2000-2024. Sva prava zaštićena.

Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).

Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.

The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.

Politika sprečavanja pranja novca

Upozorenje o rizicima

Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.

Politika poverenja

Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.

Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.

Банковни
транcфери
Feedback
Lajv čet E-mail
Povratak na vrh
Izaberi lokaciju / jezik