The Pound Sterling resumed its uptrend after hitting a weekly low of 1.2974 on Wednesday.
GBP/USD rebounds from a weekly low of 1.2974, driven by stronger-than-expected UK Retail Sales data. Momentum favors sellers, but a break above 1.3102 could lead to further gains, with resistance at 1.3129 and 1.3175. A daily close below 1.3100 may expose the pair to downside risks, with key support at 1.3000 and the 100-DMA at 1.2957. It surged after the UK Retail Sales data was stronger than foreseen by market analysts, portraying a robust economy.
Conversely, a daily close below 1.3100 could pave the way for further downside. The first support would be the 1.3000 figure, followed by the weekly low of 1.2974. Below lies the 100-DMA at 1.2957, followed by the 1.2900 mark. GBP/USD Price Action – Daily Chart British Pound PRICE Today The table below shows the percentage change of British Pound against listed major currencies today. British Pound was the strongest against the Canadian Dollar. USD EUR GBP JPY CAD AUD NZD CHF USD -0.23% -0.
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