GBP/USD Technical Outlook: Forex Analysis for the Cable Pair (2024)

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

GBP/USD’s correction from 1.3265 short term top extended lower to 1.3000 last week but recovered since then. Initial bias remains neutral this week first. On the downside, break of 1.3000 will bring deeper correction to 55 D EMA (now at 1.2961) and possibly below. On the upside, firm break of 1.3265 resistance will resume larger rally to 1.3364 projection level next.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

In the long term picture, as long as 1.2298 support holds, rise from 1.0351 long term bottom is expected to continue. The strong break of 55 M EMA (now at 1.2811) is a sign of bullish trend reversal. Yet, break of 1.4248 structural resistance is needed confirm. Otherwise, price actions from 1.0351 could just be part of a consolidation pattern.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3063; (P) 1.3095; (R1) 1.3159; More…

Intraday bias in GBP/USD remains neutral for the moment. On the upside, firm break of 1.3265 resistance will resume larger rally to 1.3364 projection next. Nevertheless, break of 1.3000 will extend the correction from 1.3265 to 55 D EMA (now at 1.2962) and possibly below.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3063; (P) 1.3095; (R1) 1.3159; More…

Intraday bias in GBP/USD is turned neutral first with current recovery. On the upside, firm break of 1.3265 resistance will resume larger rally to 1.3364 projection next. Nevertheless, break of 1.3000 will extend the correction from 1.3265 to 55 D EMA (now at 1.2962) and possibly below.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.2993; (P) 1.3052; (R1) 1.3103; More…

Intraday bias in GBP/USD stays mildly on the downside at hits point. Fall from 1.3265 short term top is in progress for 55 D EMA (now at 1.2949). Sustained break there will bring deeper fall to 1.2664 key support. On the upside, above 1.3111 minor resistance will turn intraday bias neutral first. But risk of another pull back remains as long as 1.3265 resistance holds.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.2993; (P) 1.3052; (R1) 1.3103; More…

The break of 1.3043 resistance turned support confirms short term topping at 1.3265. Intraday bias in GBP/USD is now on the downside for 55 D EMA (now at 1.2949). Sustained break there will bring deeper fall to 1.2664 key support. On the upside, above 1.3111 minor resistance will turn intraday bias neutral first. But risk of another pull back remains as long as 1.3265 resistance holds.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3051; (P) 1.3079; (R1) 1.3109; More…

Intraday bias in GBP/USD stays neutral first with focus on 1.3043 resistance turned support. Strong rebound will maintain near term bullishness. Further break of 1.3265 will extend recent up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will turn bias back to the downside for deeper pullback, to 55 D EMA (now at 1.2949) and possibly below.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3051; (P) 1.3079; (R1) 1.3109; More…

Intraday bias in GBP/USD remains neutral as range trading continues below 1.3265. Further rise is expected with 1.3043 resistance turned support intact. On the upside, firm break of 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3046; (P) 1.3095; (R1) 1.3121; More…

No change in GBP/USD’s outlook and intraday bias remains neutral. Further rise is expected with 1.3043 resistance turned support intact. On the upside, firm break of 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3046; (P) 1.3095; (R1) 1.3121; More…

Intraday bias in GBP/USD remains neutral and outlook is unchanged. Further rise is expected with 1.3043 resistance turned support intact. On the upside, firm break of 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3078; (P) 1.3158; (R1) 1.3207; More…

Outlook in GBP/USD is unchanged as range trading continues below 1.3265. Further rise is expected with 1.3043 resistance turned support intact. On the upside, firm break of 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3078; (P) 1.3158; (R1) 1.3207; More…

Intraday bias in GBP/USD remains neutral as consolidation from 1.3265 is still extending. Outlook will stay bullish as long as 1.3043 resistance turned support holds. On the upside, firm break of 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

GBP/USD stayed in consolidation below 1.3265 last week and outlook is unchanged. Initial bias remains neutral this week and more sideway trading could be seen. But after all, outlook will stay bullish as long as 1.3043 resistance turned support holds. On the upside, firm break of 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

In the long term picture, as long as 1.2298 support holds, rise from 1.0351 long term bottom is expected to continue. The strong break of 55 M EMA (now at 1.2811) is a sign of bullish trend reversal. Yet, break of 1.4248 structural resistance is needed confirm. Otherwise, price actions from 1.0351 could just be part of a consolidation pattern.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3150; (P) 1.3168; (R1) 1.3199; More…

Intraday bias in GBP/USD remains neutral as it’s still bounded in consolidations below 1.3265. While another retreat cannot be ruled out, downside should be contained above 1.3043 resistance turned support to bring rebound. On the upside, above 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will indicate short term topping and turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is resuming. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3150; (P) 1.3168; (R1) 1.3199; More…

GBP/USD is still extending consolidation from 1.3265 and intraday bias stays neutral. While deeper retreat cannot be ruled out, downside should be contained above 1.3043 resistance turned support to bring rebound. On the upside, above 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will indicate short term topping and turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is resuming. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3108; (P) 1.3141; (R1) 1.3183; More…

Intraday bias in GBP/USD remains neutral as consolidation from 1.3265 is still extending. While deeper retreat cannot be ruled out, downside should be contained above 1.3043 resistance turned support to bring rebound. On the upside, above 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will indicate short term topping and turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is resuming. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3108; (P) 1.3141; (R1) 1.3183; More…

GBP/USD is still bounded in consolidation from 1.3265 and intraday bias remains neutral at this point. While deeper retreat cannot be ruled out, downside should be contained above 1.3043 resistance turned support to bring rebound. On the upside, above 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will indicate short term topping and turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is resuming. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3084; (P) 1.3119; (R1) 1.3150; More…

No change in GBP/USD’s outlook as consolidation from 1.3265 is still in progress. Intraday bias remains neutral for the moment. While deeper retreat cannot be ruled out, downside should be contained well above 1.3043 resistance turned support to bring rebound. On the upside, above 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will indicate short term topping and turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is resuming. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3084; (P) 1.3119; (R1) 1.3150; More…

Outlook in GBP/USD remains unchanged as consolidation from 1.3265 is still extending. Intraday bias remains neutral for the moment. While deeper retreat cannot be ruled out, downside should be contained well above 1.3043 resistance turned support to bring rebound. On the upside, above 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409. However, firm break of 1.3043 will indicate short term topping and turn bias back to the downside for deeper pullback.

In the bigger picture, up trend from 1.0351 (2022 low) is resuming. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3126; (P) 1.3140; (R1) 1.3162; More…

GBP/USD is still extending the consolidation from 1.3265 and intraday bias stays neutral. While deeper retreat cannot be ruled out, downside should be contained well above 1.3043 resistance turned support to bring rebound. On the upside, above 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409.

In the bigger picture, up trend from 1.0351 (2022 low) is resuming. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

  • Technical Outlook
  • GBPUSD Outlook

By

ActionForex.com

-

Daily Pivots: (S1) 1.3126; (P) 1.3140; (R1) 1.3162; More…

Intraday bias in GBP/USD remains neutral as consolidation continues below 1.3265. While deeper retreat cannot be ruled out, downside should be contained well above 1.3043 resistance turned support to bring rebound. On the upside, above 1.3265 will resume larger up trend to 100% projection of 1.2298 to 1.3043 from 1.2664 at 1.3409.

In the bigger picture, up trend from 1.0351 (2022 low) is resuming. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364. For now, outlook will stay bullish as long as 1.2664 support holds, even in case of deep pullback.

123...214Page 1 of 214

GBP/USD Technical Outlook: Forex Analysis for the Cable Pair (2024)

FAQs

What is the outlook for GBP USD today? ›

GBP/USD Daily Outlook

Nevertheless, break of 1.3000 will extend the correction from 1.3265 to 55 D EMA (now at 1.2962) and possibly below. In the bigger picture, up trend from 1.0351 (2022 low) is in progress. Next target is 38.2% projection of 1.0351 to 1.3141 from 1.2298 at 1.3364.

Is GBP USD a good pair to trade? ›

The British pound/US dollar exchange rate is one of the most liquid currency pairs in the forex (FX) market. The narrow bid-ask spreads, volume and volatility all contribute to why trading GBP/USD is popular.

What is the best time to day trade the GBP USD forex pair? ›

There are two different times when trading of GBP/USD is at an optimal level. The first being between 3am – 4am Eastern Daylight Time. The second is at the intersection of the US and European markets. At these two times, you'll find that there are a massive amount of trades taking place.

Should I buy or sell GBP USD today? ›

The technical rating for the pair is buy today, but don't forget that markets can be very unstable, so don't stop here. According to our 1 week rating the GBPUSD shows the buy signal, and 1 month rating is buy.

Is GBP expected to rise or fall? ›

According to the latest British pound price predictions, the GBP will more likely fall against the US dollar in the first part of 2024 and raise toward 1.30 in the second half of the year.

Will GBP to USD get better? ›

The website forecasts the British Pound to reach a 1.2860 high against the US Dollar in Q4 2024. The British Pound forecast for the next 5 years is neutral, with GBP/USD trading around slightly below 1.23 after trading above 1.24 at the beginning of 2025.

Which forex pair is most profitable? ›

Which currency pair is more profitable in trading? EUR/USD is the favourite currency pair of most traders as it offers tight spreads, low volatility, and high liquidity. But, there are other popular pairs as well that traders like to trade such as, GBP/USD, AUD/USD, GBP/JPY and EUR/CHF, AUD/CAD.

What are the best forex pairs to trade in 2024? ›

In conclusion, the foreign exchange market offers hundreds of different currency pairs, but the top four most actively traded currency pairings in 2024 are EUR/USD, GBP/USD, USD/JPY, and AUD/USD. These highly liquid pairs offer tight spreads, making them easy to buy and sell.

Which indicator is best for GBP USD? ›

Here are some commonly used technical indicators for GBP/USD trading:
  • **Moving Averages (MA):** ...
  • **Relative Strength Index (RSI):** ...
  • **Moving Average Convergence Divergence (MACD):** ...
  • **Bollinger Bands:** ...
  • **Stochastic Oscillator:** ...
  • **Average True Range (ATR):** ...
  • **Fibonacci Retracement:** ...
  • **Ichimoku Cloud:**
Mar 1, 2024

How to trade GBP USD successfully? ›

GBP USD Trading Strategy
  1. Plot the high and low price range between the Frankfurt open and the London open. ...
  2. The price action during this period should appear rangebound.
  3. Enter on a breakout and close above the 38% Expansion level of the range.
  4. Stop loss to be placed at the midpoint of the opening range.

What is the best session for GBP USD? ›

Trading forex during the New York session

The New York session has the biggest overlap with the London session, and so it is a good time to trade forex, especially the GBP/USD cross.

Which forex pair is best to trade today? ›

EUR/USD (nicknamed fibre) has the highest trading volume among all currency pairs in the Forex market. Traders can invest in the largest economies with this pair, the American and European economies. This currency pair is influenced by the changes in the value of the Dollar and Euro.

Is GBP USD bullish or bearish? ›

GBP/USD is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 1.3110 USD. The next support located at 1.3008 USD…

When to buy GBP USD? ›

The best time for trading GBP/USD is when both UK and US markets are open for trading. This is from 8:00 AM to 10:00 AM GMT and from 12:00 pm TO 15:00 PM GMT. This is when the greatest market moves occur and when spreads are at their lowest.

What is the best rate for GBP USD? ›

Best exchange rate 1 GBP = 1.2923 USD

Looking for another currency?

How is the British Pound doing against the US dollar? ›

Basic Info

British Pound to US Dollar Exchange Rate is at a current level of 1.314, down from 1.316 the previous market day and up from 1.248 one year ago. This is a change of -0.22% from the previous market day and 5.21% from one year ago.

What is the best Pound to Dollar exchange rate today? ›

Best British Pound / U.S. Dollar Exchange Rate Today: 1.3044.

Why is the sterling Pound falling? ›

Sterling also recorded its fourth weekly fall against the euro, having dropped to €1.1663 against the single currency. Currency analysts said the Bank of England's interest rate cut last week has put pressure on the pound, as had expectations of one or two more cuts before the end of 2024.

Is USD expected to rise? ›

Looking forward, we estimate it to trade at 102.92 in 12 months time.

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