Key Moments
- GBP/USD traded around 1.3430 during European hours on Tuesday, marking a fourth straight session of weakness while staying within an ascending channel.
- The pair remained above both the nine-day EMA at 1.3426 and the 50-day EMA at 1.3386, with a 14-day RSI near 55 signaling steady bullish momentum.
- British Pound underperformed the New Zealand Dollar in daily trading, with GBP/NZD down 0.38% according to the currency performance table.
GBP/USD Holds Uptrend Structure Amid Short-Term Softness
GBP/USD stayed under pressure for a fourth consecutive session, changing hands near 1.3430 during European trading on Tuesday. Despite the near-term slide, daily chart readings continued to point to an overall constructive setup as the pair traded within an upward-sloping channel.
Spot remained positioned above both the nine-day and 50-day Exponential Moving Averages, reinforcing the view that the broader trend remained tilted to the upside. With the shorter- and medium-term EMAs below current price, the configuration signaled that the underlying bias was still bullish. The 14-day Relative Strength Index hovered around 55, indicating positive but not overheated momentum.
Upside Levels: Channel Resistance and Recent Highs
If buying interest resumes, GBP/USD could look toward the upper band of the ascending channel, located near 1.3630. A move through that region would bring into view the five-month peak at 1.3658, which was set on May 1.
A sustained break above 1.3658 would then open the path toward 1.3869. That level marked the highest reading since September 2021 and was reached on January 27.
Downside Focus: EMA Supports and Multi-Month Low
On the downside, the pair was probing immediate support at the nine-day EMA, situated at 1.3426 and converging with the lower boundary of the rising channel. This area represented the first key zone that bulls would look to defend.
Below that, further technical support was seen at the 50-day EMA at 1.3386. A clear break beneath this medium-term average would put focus on 1.3140, described as close to an eight-month low and last seen on June 24.
British Pound Performance Against Major Currencies
The table below summarizes the percentage change of the British Pound against major peers in recent trading. The data showed that the Pound was weakest versus the New Zealand Dollar over the period captured.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.08% | 0.02% | 0.11% | -0.04% | -0.35% | -0.36% | -0.02% | |
| EUR | 0.08% | 0.10% | 0.17% | 0.04% | -0.25% | -0.28% | 0.06% | |
| GBP | -0.02% | -0.10% | 0.07% | -0.06% | -0.35% | -0.38% | -0.04% | |
| JPY | -0.11% | -0.17% | -0.07% | -0.15% | -0.44% | -0.48% | -0.13% | |
| CAD | 0.04% | -0.04% | 0.06% | 0.15% | -0.30% | -0.32% | 0.02% | |
| AUD | 0.35% | 0.25% | 0.35% | 0.44% | 0.30% | -0.03% | 0.31% | |
| NZD | 0.36% | 0.28% | 0.38% | 0.48% | 0.32% | 0.03% | 0.34% | |
| CHF | 0.02% | -0.06% | 0.04% | 0.13% | -0.02% | -0.31% | -0.34% |
The heat map is read by selecting the base currency from the left-hand column and the quote currency from the top row. For instance, choosing the British Pound as the base currency on the left and moving horizontally to the US Dollar column shows the percentage move for GBP (base)/USD (quote) in that cell.
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