The GBPUSD currency pair experienced a rise this week, nearing the 50% retracement level at 1.3463. The current high stands at 1.3458, with recent lows recorded at 1.32594 earlier in the week. <\/p>\n
Recent movements were influenced by the Bank of England’s rate cut of 25 basis points, with a 5\u20134 vote. The rate cut was followed by a rise to and beyond the 100-day moving average, with trading now slightly below the high at 1.3446.<\/p>\n
Support for a pullback could be found at the 38.2% retracement level, crossed earlier in the week at 1.3386, and the 100-day moving average at 1.3359. <\/p>\n
A breakthrough above the 50% retracement level might lead traders to target the 61.8% level at 1.3540 and potentially the high from July 23 at 1.3588. Notable achievements include moving beyond the 100 and 200-hour moving averages and surpassing the 38.2% retracement. <\/p>\n
Challenges remain at the 50% retracement level, but past developments have provided momentum in the bullish direction for GBPUSD. Traders are advised to remain observant and prepared for changes in the market early next week.<\/p>\n
From our current perspective on August 8, 2025, the GBP\/USD is at a critical turning point. The pair is hesitating right below the 1.3463 resistance level, which represents a major 50% retracement. The immediate test for traders in the coming week will be whether this ceiling holds or breaks.<\/p>\n
The pound’s recent strength is underpinned by the Bank of England’s actions earlier this month. The BoE\u2019s surprisingly narrow 5-4 vote for a rate cut was seen as hawkish, suggesting reluctance to ease policy further. This view is supported by the latest UK inflation data for July 2025, which came in at a sticky 2.4%, keeping pressure on the central bank.<\/p>\n
Conversely, the US dollar has shown some softness, helping to push this pair higher. The most recent US jobs report for July 2025 showed that Non-Farm Payrolls rose by a modest 170,000, below expectations. This reinforces the market\u2019s belief that the Federal Reserve will likely hold rates steady through the autumn.<\/p>\n
For traders anticipating a continued rise, a decisive break above 1.3463 could be a trigger to consider buying call options. A sustained move would bring the next targets at 1.3540 and then 1.3588 into play. The bullish momentum has been building since the price successfully based above its 100-day moving average.<\/p>\n
However, if this 1.3463 level proves to be strong resistance, we could see a pullback. Traders looking to hedge or speculate on a downturn might consider put options if the price is rejected and moves back toward support. Key levels to watch on the downside are the 1.3386 area and the 100-day moving average just below it at 1.3359.<\/p>\n
We must remember the pound’s capacity for sharp moves, as seen during the significant repricing events of 2022. While the current rally is encouraging for bulls, the stall at this 50% Fibonacci level is a classic signal for caution. Be aware and be prepared for either a breakout or a reversal early next week.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" GBPUSD rises toward 1.3463, surpassing key levels; traders eye 1.3540 amid post-rate cut momentum.<\/p>\n","protected":false},"author":62,"featured_media":17032,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[],"class_list":["post-28637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-live-updates"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/28637","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/62"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=28637"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/28637\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/17032"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=28637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=28637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=28637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}