Forex News
OCBC strategists Christopher Wong and Sim Moh Siong describe South Korean Won's (KRW) initial strength and subsequent retracement as broader risk aversion resurfaced. The Bank of Korea’s decision to hold rates at 3% while retaining a tightening bias and calling KRW undervalued is seen as supportive. They expect further KRW recovery but prefer buying on dips, citing unsettled global technology sentiment and Oil prices as key risks.
BOK support but risk sentiment key
"KRW initially strengthened but subsequently pared gains overnight amid broader risk aversion. The BoK’s policy guidance had provided some support."
"While the decision to hold rates at 3% was widely expected, the central bank retained its tightening bias amid resilient growth and still-elevated inflation."
"Governor Shin’s assessment that KRW remains undervalued also offered some reassurance. The currency’s earlier resilience despite the equity selloff was also notable, although the overnight retracement suggests that global risk sentiment remains an important driver."
"We see room for further KRW recovery, supported by the BoK’s tightening bias and Korea’s strong export performance. However, we would be cautious about extrapolating recent gains while global technology sentiment remains unsettled."
"A continued recovery would be more convincing if foreign equity selling moderates. For now, we favour buying KRW on dips rather than chasing strength, with oil prices and global technology sentiment remaining key risks."
"Daily momentum is not indicating a clear bias while decline in RSI moderated. 2-way trades likely. Support at 1320. Resistance at 1335, 1343 (21 DMA). Sell rallies preferred."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
OCBC strategists Christopher Wong and Sim Moh Siong note Philippine Peso (PHP) remains under pressure even after a larger-than-expected 50bp Bangko Sentral ng Pilipinas (BSP) hike to 5.50%, reflecting persistent inflation concerns. Higher rates may temper depreciation but are unlikely to fully offset elevated Oil prices, external imbalances and domestic growth worries. OCBC keeps a cautious stance, saying a sustained PHP recovery needs lower Oil and a better external backdrop.
Rate hikes fail to lift Peso sentiment
"PHP remained under pressure despite BSP’s larger-than-expected 50bp rate hike to 5.50%. The decision reflects growing concerns over inflation persistence, with BSP raising its 2027 inflation forecast to 6% from 5.4%, amid elevated oil prices and potential El Niño-related food price pressures."
"We remain cautious on PHP. Higher rates may help temper depreciation pressure, but elevated oil prices, external imbalances and concerns over domestic growth remain constraints. Further tightening also comes at a cost to an already slowing economy."
"For now, a more sustained PHP recovery would likely require some easing in oil prices and an improvement in the broader external backdrop."
"Daily momentum is mild bullish while RSI enters into overbought conditions. 2-way trades near recent highs not ruled out. Immediate resistance at 63.65, 63.85 levels (recent high). Support at 63 levels (21 DMA), 62.65 (21 DMA)."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- XAG/USD hits a fresh yearly low at $53.03, confirming bearish continuation.
- RSI approaches oversold territory as sellers maintain downward pressure.
- A break below $53.00 exposes $50.00, followed by $48.64 and $45.56.
Silver (XAG/USD) price downtrend extended on Friday, losing over 1% after hitting a new yearly low of $53.03, paving the way for sellers to challenge the $50.00 level in the foreseeable future. At the time of writing, XAG/USD trades near $54.00.
XAG/USD Price Forecast: Technical Outlook
The downtrend is poised to extend after Silver hit a new yearly low, opening the door to further downside. The Relative Strength Index (RSI) is bearish and about to become oversold, indicating that sellers are gaining strength as XAG/USD edges lower.
The first support is $53.50. A breach of the latter will expose the YTD low of $53.05, followed by $50.00. The next area of interest is the November 21, 2025, swing low at $48.64, before the precious metal challenges the October 28, 2025, swing low at $45.56.
For a bullish reversal, Silver must rise above $55.00. Once it clears that level, the next stop is the October 22 high of $58.02, followed by the $60.00 milestone.
XAG/USD Price Chart – Daily
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
- Gold drops below $4,000, extending weekly losses to nearly 3.90%.
- WTI surges above $100 as Middle East hostilities intensify.
- December Fed hike odds reach 78% ahead of FOMC and PCE data.
Gold (XAU/USD) price prolongs its agony, tumbling by nearly 0.60% on Friday and poised to finish the week with losses as higher energy prices increase the chances that major central banks could tighten monetary policy to control inflation. At the time of writing, XAU/US floats near $4,000 after hitting a three-month low of $3,975.
XAU/USD is down nearly 4% weekly as surging energy prices reinforce global inflation risks
Bullion is set to lose almost 3.90% this week as the conflict in the Middle East escalates. Newswires reported that the US and Israel are getting ready to launch an attack on Iran after the US midterm elections, with the Islamic Revolutionary Guard Corps (IRGC) attacking shipping vessels transiting through “illegal routes” in the Strait of Hormuz. Also, the Houthis and Saudi Arabia are exchanging fire, adding to a sour market mood in the financial markets.
Data in the US were mixed, with consumer sentiment deteriorating while business activity expanded.
The University of Michigan Consumer Sentiment Index fell to a five-month low in October, from 48.1 to 48, ignited by higher energy prices and expectations that the Federal Reserve (Fed) will keep rates higher for longer. Inflation expectations remained unchanged from the previous report, though they are above the Fed’s 2% target. Consumers see inflation over the next 12 months at 4.7% and for a 5-year period at 3.5%.
S&P Global unveiled the preliminary Services and Manufacturing Purchasing Managers’ Index (PMI) for the US, which showed that manufacturing activity improved from 55.9 to 56 in October, while the services cooled from 58.8 to 57.9, as expected by analysts.
Meanwhile, geopolitics are underpinning Oil prices, with West Texas Intermediate (WTI), the US crude benchmark, climbing over 4% and back above the $100 threshold. Hence, expectations that energy prices will continue to remain high increase the odds that the Federal Reserve will hike rates to bring inflation to the 2% target.
Despite this and last week’s red-hot consumer and producer inflation, money markets had taken a rate hike off the table for next week’s Fed meeting. But for December, the chances are 78%, according to Prime Terminal.
Next week, the US docket features the Fed’s meeting on Tuesday and Wednesday, followed by the release of the Fed's preferred inflation gauge, the core Personal Consumption Expenditures (PCE) Price Index on Thursday.
XAU/USD technical analysis: Gold sellers breach $4,000, up next is $3,900
Gold price is trading around the $4,000 level after sellers pushed bullion to a three-month low of $3,975. However, buyers are opposing resistance, pushing the yellow metal toward $4,000.
Despite this, a tug of war between bulls and bears favors the latter. First, the market structure of successive lower highs and lower lows remains intact, and momentum favors further downside, with the RSI (14) eyeing a test of oversold territory.
For a bearish continuation, the first support for XAU/USD is the day's low at $3,975. Below the next stop is the July 17 low at $3,959 and the year-to-date (YTD) low at $3,941.
On the upside, bulls must reclaim $4,10 which would expose the $4,200 mark. Once surpassed, the next stops are the 100-day Simple Moving Average (SMA) at $4,224, the 50-day SMA at $4,302, and $4,500.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Commerzbank’s Charlie Lay and Dr. Henry Hao highlight that the Bank of Korea (BoK) kept its policy rate at 3.00% after two prior hikes, but delivered a clearly hawkish message. Strong semiconductor exports underpin higher growth expectations and rising inflation pressures. The authors note KRW strength since June and expect USD/KRW to consolidate in a 1300–1350 range near term.
BoK pause keeps tightening bias
"BoK said it now expects GDP growth in 2026 and 2027 to be “considerably higher” than its August forecasts of 3.3% and 2.9%, respectively, but did not provide new numbers. This was due to robust semiconductor exports and investment. There were no changes to the inflation forecasts."
"BoK expects inflation to stay around the August forecast of 2.3% for 2026 and 2.5% for 2027. It expects core inflation to strengthen in 2027, reflecting persistent cost pressures and strengthening domestic demand. Overall, the decision to stay on hold should be seen as a pause rather than the end of the tightening cycle."
"More importantly, BoK expects these gains to increasingly feed through to household incomes and private consumption, broadening the recovery beyond the export sector and adding to underlying inflation pressures."
"BoK left the door open for a 25bp hike either in November or December this year. The upcoming Q3 GDP release, October inflation data and November economic projections will be important inputs."
"For FX, BoK's hawkish stance is providing some support for KRW, alongside the large current account surplus. USD/KRW was slightly lower yesterday at around 1,326. Since the end of June, KRW has strengthened by nearly 17% vs USD. We look for consolidation in the near term between 1300-1350."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- EUR/USD remains under pressure as a firmer US Dollar and France’s fiscal concerns weigh on the Euro.
- The weekly chart retains a bearish bias as the pair trades below key moving averages.
- RSI approaches oversold territory, with the 200-week SMA emerging as key support.
EUR/USD trades on the back foot on Friday as the US Dollar (USD) regains some ground alongside US Treasury yields following Thursday’s decline. France’s fiscal concerns add pressure on the Euro (EUR), while traders look ahead to next week’s Federal Reserve (Fed) and European Central Bank (ECB) interest rate decisions.
At the time of writing, the pair trades around 1.1190, down 0.22% on the day. Meanwhile, the US Dollar Index (DXY), which tracks the Greenback's value against a basket of six major currencies, trades around 101.82 after touching a three-week low of 101.45 on Thursday.
Fed and ECB seen pausing now but primed for December rate hikes
Economists at Commerzbank argue that “the Fed and the ECB thus have good reasons to pause in October, not least to gain more clarity on the economic and geopolitical conditions.” Looking ahead, they expect policy tightening to resume, with the bank judging that “in December, however, both central banks are likely to respond to persistently high inflation and raise interest rates—as priced in by the futures markets—by 25 basis points.” Commerzbank stresses that this guidance is not without caveats, adding that “the forecast for the ECB is contingent on the situation in the French government bond market not escalating.”
Technical analysis: Weekly chart
EUR/USD holds marginally above the 200-week Simple Moving Average (SMA) at 1.1105 but remains below the 50-week SMA at 1.1585 and the 100-week SMA at 1.1379, leaving sellers in control..
The pair also trades below the 38.2% Fibonacci retracement at 1.1355 and the 23.6% retracement at 1.1634, reinforcing a topside cap, while the Relative Strength Index (RSI) at 34 hovers just above oversold territory and the Moving Average Convergence Divergence (MACD) remains negative, both suggesting persistent, though not extreme, selling pressure within a modest trend environment indicated by the Average Directional Index (ADX) around 20.
On the downside, initial support emerges near the 50.0% Fibonacci retracement at 1.1130, closely followed by the 200-week SMA at 1.1105, with deeper bearish extension exposing the 61.8% retracement at 1.0905 and the 78.6% level at 1.0585 before the structural floor around the 100.0% retracement at 1.0177.
On the topside, a first hurdle is seen at the 38.2% Fibonacci retracement at 1.1355, ahead of the 100-week SMA at 1.1379, while a more meaningful recovery would require a weekly close above the 50-week SMA at 1.1585 and the 23.6% retracement at 1.1634, which together define a dense resistance band capping the broader rebound.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Euro Price This week
The table below shows the percentage change of Euro (EUR) against listed major currencies this week. Euro was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.07% | -0.45% | -0.74% | -0.83% | -1.12% | -0.74% | -0.11% | |
| EUR | 0.07% | -0.35% | -0.65% | -0.72% | -0.96% | -0.64% | -0.01% | |
| GBP | 0.45% | 0.35% | -0.29% | -0.36% | -0.58% | -0.29% | 0.40% | |
| JPY | 0.74% | 0.65% | 0.29% | -0.08% | -0.39% | -0.00% | 0.75% | |
| CAD | 0.83% | 0.72% | 0.36% | 0.08% | -0.30% | 0.13% | 0.77% | |
| AUD | 1.12% | 0.96% | 0.58% | 0.39% | 0.30% | 0.31% | 0.97% | |
| NZD | 0.74% | 0.64% | 0.29% | 0.00% | -0.13% | -0.31% | 0.68% | |
| CHF | 0.11% | 0.01% | -0.40% | -0.75% | -0.77% | -0.97% | -0.68% |
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 Euro from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent EUR (base)/USD (quote).
United Overseas Bank strategists (UOB) Quek Ser Leang and Lee Sue Ann note that USD/SGD was little changed on Thursday, trading in a narrow band as safe-haven flows and Oil gains supported the US Dollar against Asian currencies. Their short-term view sees modest downside within 1.2755–1.2780, while the 1–3 week outlook stays negative toward 1.2750 as long as 1.2795 caps.
Modest downside while capped below resistance
"24-HOUR VIEW: After USD traded within a tight 1.2771/1.2783 range two days ago, we indicated yesterday that “the price action provides no fresh clues.” We also indicated that USD “could trade between 1.2765 and 1.2785.” USD then traded within a slightly wider range of 1.2762/1.2785, closing unchanged at 1.2774. There has been a slight increase in downward momentum, but it is insufficient to indicate a sustained decline. Today, USD could edge lower, but any decline should stay within a 1.2755/1.2780 range."
"1-3 WEEKS VIEW: We turned negative on USD early this week. In our most recent narrative from Wednesday (21 Oct, spot at 1.2780), we highlighted that “downward momentum has increased further, and USD could decline to 1.2750.” Although USD has traded in a quiet manner since then, we will continue to hold the same view as long as USD holds below 1.2795 (‘strong resistance’ level previously at 1.2805)."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- WTI rises to a 22-week high and breaks above the band it held since Monday.
- Aramco clears its headquarters, and a tanker is hit as it leaves Hormuz.
- President Trump speaks at a Fort Myers rally Friday after his Iran remarks.
Two days of Houthi attacks in Saudi Arabia and strikes on ships leaving the Strait of Hormuz have taken WTI above the $95.00-$101.00 band it held from Monday to Thursday. It has risen from near $98.50 to just under $103.00, its highest in 22 weeks, and it's trading in the top fifth of the session's range.
Saudi Aramco (2222.SR) told its remaining staff on Thursday to leave its Dhahran headquarters, after debris from a Houthi drone killed two people at the Shaybah field. A tanker was hit by an unknown projectile as it left Hormuz near Limah in Oman, UK Maritime Trade Operations said on Friday. Both attacks land on supply still getting out of the Gulf, and WTI rose on Thursday and is higher again on Friday.
US Ambassador to the United Nations Waltz told the Financial Times the war could last another year, and President Trump said the US could end it very quickly. Ambassador Waltz said the Navy can keep Iran's ports blockaded for the foreseeable future, and Kpler expects that to cut Iran's Crude Oil revenue to zero by mid-December. On either timeline, Iran's barrels stay off a market already short of Gulf supply.
On the calendar
President Trump holds a midterm rally in Fort Myers, Florida, on Friday, after telling reporters the US is taking all the Crude Oil it wants out of Hormuz. US and Israeli planning for strikes on Iran after the November 3 midterms is going ahead, ABC News, The Atlantic and The New York Times report. Officials say no decision has been made, and those strikes would fall on Gulf supply that's already under attack.
On the charts
The high went past the September 15 peak just above $102.00, and the price is back near that peak. The climb from the August 6 low near $74.00 is now about $28, and the 50-day Exponential Moving Average (EMA) has risen to just above $91.50. Daily momentum has just reached overbought for the first time since mid-September.
WTI spot daily chart
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
Tatha Ghose at Commerzbank reports that Turkey’s Central Bank of the Republic of Türkiye (CBRT) cut its one-week repo rate by 100bp to 36.0%, alongside similar moves in overnight rates. Despite acknowledging upside inflation risks from higher Oil, the bank now claims indicators “confirm” disinflation and signals meeting-by-meeting flexibility without altering its easing trajectory. Commerzbank expects USD/TRY to reach 52.0 by year-end.
Turkish central bank continues to ease
"Turkey’s central bank (CBRT) cut its one-week repo rate by 100bp as expected yesterday, from 37.0% to 36.0%. CBRT also lowered both overnight rates by 100bp, taking the lending and borrowing rates to 39.0% and 34.5%, respectively."
"The changes from September’s statement were subtle but revealing. CBRT hardened its assessment that inflation indicators “suggest” deceleration, to the stronger claim that they “confirm” deceleration in the underlying trend."
"This confidence rests heavily on September’s softer inflation reading, which we think could prove to be a one-off caused by the temporary decline in imported energy prices in prior months. Oil has since climbed back above USD 110 per barrel. CBRT still acknowledges that elevated energy prices pose an upside inflation risk, but evidently does not consider this sufficient to delay easing."
"CBRT similarly tweaked its assessment of the real economy – that it “indicates” weakness. The most meaningful addition is that the size and timing of policy steps will be decided prudently on a meeting-by-meeting basis."
"This may signal flexibility over individual decisions, but does not challenge the direction of travel. CBRT is now committed to a rate-cutting path, even if it may sometimes skip a meeting. We expect USD-TRY to trade at 52.0 by year-end."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- GBP/USD slips 0.16% to 1.3378 as Dollar demand recovers.
- US Manufacturing PMI rises to 56 despite weaker consumer sentiment.
- UK Retail Sales slow sharply ahead of next week's Fed decision.
The Pound Sterling (GBP) retreats by about 0.16% against the US Dollar (USD) on Friday as US business activity expands, while consumer sentiment worsens, with households complaining about high prices. At the time of writing, GBP/USD trades at 1.3366.
GBP/USD retreats as resilient US activity and disappointing UK Retail Sales weigh on sentiment
Tensions in the Middle East remain high. US President Donald Trump said that “we could end the war with Iran very quickly”, adding that “do we want to finish it or let it within is the question.” He reassured that the US controls the Strait of Hormuz.
Meanwhile, Houthis continued to attack Saudi Arabia interests, while Iran’s Islamic Revolutionary Guard Corps (IRGC) continued to strike ships transiting the Strait, through an “illegal route.”
Data in the US showed that business activity expanded but at a slower pace. The flash S&P Global Manufacturing PMI came at 56 in October, above 55.9 in September. The Services PMI dipped from 58.8 to 57.9, as economists expected. Meanwhile, the University of Michigan Consumer Sentiment Index fell to a five-month low in October, attributed to higher prices and expectations of higher rates, easing to 48 from 48.1 the previous month.
Meanwhile, inflation expectations for one year steadied at 4.7%, and for five years stood at 3.5%.
GBP/USD trimmed some of its gains, as the Greenback trimmed some of its earlier losses. The US Dollar Index (DXY), which measures the performance of the buck’s value against six currencies, is up 0.17% to 101.79.
Next week, traders eye the Federal Reserve's monetary policy decision and the Core Personal Consumption Expenditures (PCE) Price Index release.
Across the pond, UK data were mixed: the S&P Global Composite PMI rose to 53.1 from 52 in September, while Retail Sales deteriorated from 2.7% to 0.8% YoY, below forecasts.
British Prime Minister Andy Burnham said on Friday that next week’s first annual budget statement will give businesses "breathing space to grow.”
GBP/USD Price Forecast: Technical outlook
In the daily chart, GBP/USD trades at 1.3367, holding a bearish near-term bias as it remains capped beneath the clustered simple moving averages around 1.3404 and the descending trend-line resistance coming from 1.3653 at 1.3402. The pair is also trading below the higher rising trend supports at 1.3628 and 1.3811, which now act as overhead barriers, while the Relative Strength Index (14) at 54.5 only hints at modest, corrective upside momentum rather than a sustained bullish shift.
On the topside, initial resistance is aligned at the descending trend line around 1.3402, closely followed by the triple simple moving average cluster at 1.3404; a daily close above this area would be needed to ease immediate downside pressure. Further up, the former rising trend supports at 1.3628 and 1.3811 form progressively stronger resistance zones. On the downside, the main nearby structural support is defined by the broken resistance trend line around 1.3266, where buyers could attempt to slow the decline if the pair extends its slide.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Pound Sterling Price This week
The table below shows the percentage change of British Pound (GBP) against listed major currencies this week. British Pound was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.08% | -0.44% | -0.64% | -0.83% | -1.06% | -0.75% | -0.14% | |
| EUR | 0.08% | -0.33% | -0.54% | -0.72% | -0.89% | -0.62% | -0.04% | |
| GBP | 0.44% | 0.33% | -0.23% | -0.38% | -0.56% | -0.30% | 0.35% | |
| JPY | 0.64% | 0.54% | 0.23% | -0.17% | -0.40% | -0.09% | 0.63% | |
| CAD | 0.83% | 0.72% | 0.38% | 0.17% | -0.24% | 0.12% | 0.73% | |
| AUD | 1.06% | 0.89% | 0.56% | 0.40% | 0.24% | 0.24% | 0.88% | |
| NZD | 0.75% | 0.62% | 0.30% | 0.09% | -0.12% | -0.24% | 0.65% | |
| CHF | 0.14% | 0.04% | -0.35% | -0.63% | -0.73% | -0.88% | -0.65% |
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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