GBP\/USD rose for a third session and traded near 1.3480 in early European hours on Tuesday. The short-term view stays mildly bearish, with price below the 50-day EMA but above the nine-day moving average, which is turning down.<\/p>\n
The daily chart keeps a bearish tone as the pair trades inside a descending channel. The 14-day RSI has lifted from near-oversold levels but remains below 50, pointing to weaker upside momentum.<\/p>\n
Immediate support is at the nine-day EMA at 1.3433. A break below it may open a move to the 1.3350 reversal zone, then the channel area near 1.3050 and the 11-month low at 1.3010.<\/p>\n
On the upside, the 50-day EMA at 1.3492 is the first barrier. A move above it may target the upper channel near 1.3590, and a break out could lead to a retest of 1.3869, the highest since September 2021, reached on 27 January.<\/p>\n
The technical analysis was produced with help from an AI tool.<\/p>\n
As we look at GBP\/USD today, March 10, 2026, the pair is struggling around the 1.2450 mark. The short-term picture remains fragile as we trade below the key 50-day moving average at 1.2510. This continues the pattern of lower highs we observed for much of late 2025.<\/p>\n
This technical pressure is reinforced by the latest economic data showing UK inflation easing to 2.1%, giving the Bank of England room to stay on hold. In contrast, the US jobs report from last week added a robust 250,000 positions, keeping the Federal Reserve on a much more hawkish path. This policy divergence has been a key theme since we saw the interest rate differential widen throughout 2025.<\/p>\n
For traders, the immediate focus is on the 1.2400 support level, which has held for the past week. A decisive break below this would likely signal another wave of selling, opening the door for a test of the 1.2250 zone from January. We see this as an opportunity to consider buying put options or establishing fresh short positions.<\/p>\n
On the other hand, any rallies appear to be corrective for now, with strong resistance waiting at the 1.2510 moving average. Only a sustained move above the significant 1.2675 resistance from last quarter would force us to reconsider the bearish bias. Such a break could trigger a short squeeze and make call options more attractive.<\/p>\n
Create your live VT Markets account<\/a>\u00a0and\u00a0start trading<\/a>\u00a0now. <\/b><\/p>\n","protected":false},"excerpt":{"rendered":" GBP\/USD nears 1.3480; bearish in descending channel. Key supports 1.3433\/1.3350; resistance 1.3492, then 1.3590.<\/p>\n","protected":false},"author":103,"featured_media":17035,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[59],"tags":[],"class_list":["post-51102","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\/51102","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\/103"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=51102"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/51102\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media\/17035"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=51102"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=51102"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=51102"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}