GBP/USD Technical Analysis March 26, 2025
Current Price Levels and Technical Indicators:
As of 8:00 AM GMT on March 26, 2025, the GBP/USD currency pair is trading at approximately 1.2945.
Relative Strength Index (RSI): The 14-day RSI is positioned above 50, indicating strong bullish momentum.
Moving Averages: The pair is testing the nine-day Exponential Moving Average (EMA) at 1.2938. Trading above this level could reinforce the bullish bias.
Support and Resistance Levels:
Support: Immediate support is observed at the ascending channel’s lower boundary near 1.2840. A decline below this level may signal a potential correction toward lower support zones.
Resistance: The first resistance level is at 1.2950. A break above this could open the door for further gains toward higher resistance levels.
Fundamental Factors:
Several fundamental factors are influencing the GBP/USD pair:
UK Inflation Data: In February 2025, UK inflation fell to 2.8%, down from 3% in January, largely due to reduced clothing prices. Core inflation also slowed to 3.5%. Despite this, food and non-alcoholic beverage inflation remained steady at 3.3%, with predictions of an increase to 5% by the end of 2025 due to rising costs.
US Economic Indicators: The US Consumer Confidence Index for March is scheduled for release later today, with expectations set at 94.2. Additionally, New Home Sales data for February is anticipated at 682,000 units. These indicators could influence the US dollar’s performance and, consequently, the GBP/USD pair.
Conclusion:
The GBP/USD pair is currently exhibiting bullish momentum, trading near recent highs. Technical indicators suggest potential for continued upward movement if resistance levels are breached. However, traders should monitor upcoming economic data releases and central bank communications, as they may influence future price movements.
EUR/USD Technical Analysis March 26, 2025
USD/JPY Technical Analysis March 26, 2025
USD/CAD Technical Analysis March 26, 2025