GBP/USD Technical Analysis March 13, 2025
As of March 13, 2025, at the current hour, the GBP/USD currency pair is trading around 1.2989.
Current Price Levels and Technical Indicators:
The GBP/USD pair has recently reached a four-month high of 1.2989, indicating strong bullish momentum. Technical indicators suggest a continuation of this trend, with the pair breaking above the 1.2800 resistance zone and holding above key moving averages. The Relative Strength Index (RSI) is currently above 60, confirming the bullish sentiment, while the Moving Average Convergence Divergence (MACD) remains in positive territory, supporting further upside potential. A key bullish trend line is forming with support around 1.2720 on the 4-hour chart.
Support and Resistance Levels:
Immediate support for GBP/USD is observed at 1.2902, with the next level of support at 1.2817. A break below these levels could trigger a short-term retracement towards 1.2750. On the upside, resistance levels are identified at 1.3046, followed by 1.3062. A sustained move above these levels could push the pair towards the psychological barrier of 1.3100.
Fundamental Factors:
The British economy has faced stagnation over the past few years, with concerns over sluggish growth and potential trade-related risks. Ongoing discussions about tariffs and economic policies continue to play a crucial role in shaping market sentiment. Meanwhile, recent mild U.S. inflation data has had an impact on the U.S. dollar’s strength, influencing GBP/USD price action. Additionally, investor focus remains on upcoming economic releases from both the UK and the U.S., which could provide further direction for the pair.
Conclusion:
The GBP/USD pair is exhibiting strong bullish momentum, reaching a four-month high. While technical indicators suggest further upside potential, traders should remain cautious and monitor key support and resistance levels. Upcoming economic data releases and geopolitical developments will be essential in determining the pair’s next movement.
EUR/USD Technical Analysis March 13, 2025