GBP/USD is trading around 1.3570, having recovered losses during Asian hours on Monday. The pair may test the level of 1.3632, which would be the highest since February 2022, as the 14-day Relative Strength Index remains above 50, indicating a bullish trend.

The pair has rebounded above the nine-day Exponential Moving Average, supporting short-term positive momentum. A continued rise could lead GBP/USD to the resistance at 1.3632, potentially exploring the upper boundary of the ascending channel at 1.4250.

Primary Support Levels

On the downside, the primary support lies at the nine-day EMA of 1.3552, followed by the 50-day EMA at 1.3346. Should these supports be broken, GBP/USD might test the 10-week low of 1.3063 recorded on April 14.

In other currency movements, the British Pound showed varied performance against major currencies, being the strongest against the Canadian Dollar. A heat map illustrates the percentage changes, with GBP gaining 0.07% against USD and being steady against EUR. Risks remain in currency markets, and thorough research is advised before making any financial decisions.

The recent uptick in GBP/USD towards the 1.3570 mark comes after a firmer session in Asia, erasing earlier weakness and re-establishing control above short-term averages. Technically, this places the pound in a position to challenge the highs last seen in early 2022, particularly the 1.3632 area. That’s not rhetoric — the Relative Strength Index, hovering steadily above 50, confirms a stronger directional bias remains in place.

Price action has pushed back above the nine-day Exponential Moving Average (EMA), a level often looked to for initial clues on short-term moves. This alone doesn’t guarantee follow-through, but it’s one of several filters we use to narrow down the probability of continuation. A decisive push through 1.3632 starts to bring the ascending channel’s upper line into view, somewhere near 1.4250. It’s premature to regard that as the next destination, but its presence adds shape to a technically supported rally, which has been regaining consistency since early April.

Support and Resistance Dynamics

Support levels remain tightly grouped. Initial pressure points lie at the nine-day EMA around 1.3552, a level that may still hold if the current momentum sustains. A slip from here would likely open up a broader test towards the 50-day EMA at 1.3346. That’s not too distant but would mark a more visible reversion in trend, particularly if accompanied by lower liquidity or negative macro developments. If selling intensifies below that, the previous key low at 1.3063 enters focus for revisiting — not a base case scenario now, but not something to dismiss entirely.

Elsewhere in the currency space, the pound showed a mixed performance across major pairs. It managed its best relative move against the Canadian dollar but remained largely stable against the euro. This sort of divergence reflects uneven data quality across economies, and in some cases, shifting expectations around central bank tone. We’ve seen this before — moments when one segment of the market reacts disproportionately, only later to recalibrate.

For those working within derivatives tied to sterling, these reference levels help frame short-term positioning. Upside tests towards the 1.3630-1.3650 range can draw in momentum-focused interest, particularly where spot levels and implied volatility skew start to diverge in favour of the underlying trend. However, respecting downside structure around the nine and 50-day EMAs offers a hedge to that view.

We’re watching for rotations in positioning data or noticeable changes in volume along key price areas, both of which can indicate activity by larger participants. Even more subtle shifts in sentiment can be inferred from how pricing evolves around these mid-level supports and whether pullbacks generate interest or hesitation.

Macro drivers haven’t disappeared — interest rate expectations will still guide tone. But in the short run, technical action is offering clearer signals, especially when framed against recent consolidation and comparative strength benchmarks. Data ahead will inform, but for now, price is taking the lead.

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