The pair surged on broad USD selling but stalled at technical resistance levels, with sellers emerging near 1.3463.
GBPUSD climbed sharply today as the USD faced broad-based selling pressure amid Middle East peace hopes, lower oil prices, declining Treasury yields, and stronger US equities. The pair found support near the 100-hour moving average at 1.3384 before breaking above the 200-day moving average at 1.34229, reinforcing a bullish bias.
The rally extended into a key resistance zone between 1.3446 and 1.3465, where momentum slowed. The high reached 1.3463 before sellers stepped in near the 200-hour and 100-day moving averages at 1.3472 and 1.3476, respectively. The pair now trades near 1.3437, with the 200-day moving average at 1.34229 acting as critical support.
A break below this level could shift sentiment back toward sellers, while holding above it may maintain the short-term bullish outlook.