GBP USD Technical Analysis March 10, 2025
As of March 10, 2025, the GBP/USD currency pair has demonstrated significant movements on the H1 time frame, influenced by both technical indicators and fundamental factors.
Current Price Levels and Technical Indicators:
In the past few hours, GBP/USD has been trading around the 1.2925 level, attempting to breach this resistance. The overall momentum appears bullish, with technical indicators suggesting a continuation of the upward trend.
Support and Resistance Levels:
Immediate Resistance: 1.2925 – This level has been a significant barrier, with the pair attempting to breach it in recent sessions.
First Support: 1.2774 – Identified as a pullback support, indicating a potential area where buying interests could resume the uptrend.
Second Support: 1.2511 – Recognized as a pullback support, acting as a potential level where the price could stabilize.
Fundamental Factors:
Recent UK economic data has been positive, with improved growth figures and diminished expectations of aggressive tariffs from the U.S. administration. Additionally, developments related to the geopolitical landscape, such as the UK’s stance on international conflicts, could influence market sentiment and, consequently, the GBP/USD pair.
Conclusion:
The GBP/USD pair is currently exhibiting bullish momentum, with the 1.2925 level serving as a critical resistance. A successful breach of this level could pave the way for further gains, while failure to do so might lead to a pullback toward the identified support levels. Traders should monitor these levels closely and stay updated on economic and geopolitical developments that could impact the pair’s movement.
EUR/USD Technical Analysis March 10, 2025