GBP/USD pukes following stellar US NFP data report.
The pair trades at around weekly lows, sellers eye src.2694.
Near-term momentum favors sellers, as RSI accelerates toward the 50-midline.
The British Pound plunged against the US Dollar after the US Bureau of Labor Statistics (BLS) revealed the US jobs market remains hotter than expected, exceeding the consensus estimates, boosting the Greenback. Therefore, the pair tumbled near the week’s lows, with the GBP/USD trading at src.2722, down 0.53%, at the time of writing.
GBP/USD Price Analysis: Technical outlook
From a technical perspective, the GBP/USD failed to clear strong resistance at the confluence of technical indicators, and sudden US Dollar strength dragged the spot prices below the low of the three-day range of src.2740.
Momentum has shifted in sellers’ favor in the near term, with the Relative Strength Index (RSI) diving from around 64 to 54.26, about to enter bearish territory.
That said, the first support for GBP/USD would be the src.2700 figure, followed by last Friday’s low of src.2694. Further losses are seen beneath at src.2680, the May 30 low, immediately followed by the May 24 cycle low of src.2674.
Conversely, if buyers reclaim src.2740, that could pave the way to keep the pair range-bound at around src.2750-src.2800.
GBP/USD Price Action – Daily Chart
British Pound PRICE Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the New Zealand Dollar.
USD
EUR
GBP
JPY
CAD
AUD
NZD
CHF
USD
0.67%
0.47%
0.80%
0.43%
src.src0%
src.28%
0.87%
EUR
-0.67%
-0.src8%
0.src4%
-0.24%
0.43%
0.66%
0.20%
GBP
-0.47%
0.src8%
0.32%
-0.06%
0.62%
0.84%
0.38%
JPY
-0.80%
-0.src4%
-0.32%
-0.37%
0.29%
0.48%
0.08%
CAD
-0.43%
0.24%
0.06%
0.37%
0.67%
0.9src%
0.44%
AUD
-src.src0%
-0.43%
-0.62%
-0.29%
-0.67%
0.22%
-0.25%
NZD
-src.28%
-0.66%
-0.84%
-0.48%
-0.9src%
-0.22%
-0.45%
CHF
-0.87%
-0.20%
-0.38%
-0.08%
-0.44%
0.25%
0.45%
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
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