GBP/USD is trading slightly lower around 1.2685 due to a stronger US Dollar. However, the pair maintains a bullish stance above the important 100-period Exponential Moving Average (EMA). Key resistance is identified around the 1.2700–1.2710 zone, while initial support lies at 1.2650. The pair’s recent upward trend might face a challenge as the US Dollar strengthens.

Looking at technical indicators, GBP/USD remains bullish, with the RSI above the 50 midline on the four-hour chart, indicating a preference for upward movement.

The resistance zone at 1.2700-1.2710 presents a significant hurdle, marked by the upper Bollinger Band boundary, a psychological round figure, and a previous high from March 4. Breaking above this level could lead to further gains, with potential targets at 1.2750 and 1.2785.

Conversely, initial support lies at the 100-period EMA around 1.2650, followed by the lower Bollinger Band boundary at 1.2612. Further downside targets include lows from February 20 at 1.2580 and December 11 at 1.2535.

Traders are closely monitoring February’s labor market report, which could influence GBP/USD’s direction in the near term.

GBP/USD four-hour chart


Today last price1.2685
Today Daily Change-0.0005
Today Daily Change %-0.04
Today daily open1.269
Daily SMA201.2632
Daily SMA501.2674
Daily SMA1001.2558
Daily SMA2001.2579
Previous Daily High1.2706
Previous Daily Low1.2652
Previous Weekly High1.27
Previous Weekly Low1.26
Previous Monthly High1.2773
Previous Monthly Low1.2518
Daily Fibonacci 38.2%1.2686
Daily Fibonacci 61.8%1.2673
Daily Pivot Point S11.2659
Daily Pivot Point S21.2629
Daily Pivot Point S31.2605
Daily Pivot Point R11.2713
Daily Pivot Point R21.2737
Daily Pivot Point R31.2768

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