Location & Language

Zenfinex Global Limited regulated by the Financial Services Authority (FSA) of Seychelles (SD092)

GBP/USD Rises to Highest Level Since October 2024

The GBP/USD currency pair recorded a level of 1.3267 today, its highest since October 3, 2024. It has surged by nearly 10% from the low of 1.2100 seen on January 13, 2025, to the peak reached today. The pair is currently hovering around 1.3250, marking a year-to-date gain of approximately 6%.

Recent UK economic data reflects the resilience of the British economy:

  • Monthly GDP grew by 0.5%, exceeding both expectations (0.1%) and the previous reading (0.0%).
  • Monthly industrial production rose by 1.5%, also beating forecasts (0.1%) and the previous figure (-0.5%).
  • Retail sales, as reported by the British Retail Consortium, increased by 0.9%, ahead of expectations (0.7%).
  • The unemployment change came in at 18.7K, lower than the expected 30.3K.

Notably, a key factor driving the bullish momentum for GBP/USD has been the weakness of the U.S. dollar. This is largely due to tariffs imposed by President Donald Trump on multiple countries—especially China—and rising concerns about a potential U.S. recession, which has provided additional upward support for the British pound.

Technical Outlook:

If the pivot point at 1.3216 is broken for the GBP/USD pair, potential support levels include 1.3178, 1.3125, and 1.3087. On the upside, surpassing the pivot could lead to resistance levels at 1.3269, 1.3307, and 1.3360.

The Relative Strength Index (RSI) currently stands at around 67, indicating continued positive momentum for GBP/USD. Additionally, the MACD indicator shows the blue line above the orange Signal Line, reinforcing the bullish trend.

Please note that this analysis is provided for informational purposes only and should not be considered as investment advice. All trading involves risk.

 

 

Back

Popular Posts

Japanese Yen Under Pressure: Upcoming Elections and Record Debt

FTSE 100 Index Maintains Historic Uptrend Despite Global Challenges

With market optimism and U.S. congressional support: Bitcoin eyes unprecedented levels

Silver Prices Continue to Rise, Outperforming Gold and Global Indices

Lorem Ipsum

Lorem ipsum dolor sit amet, consectetur adipiscing elit.

Here are some related articles you may find interesting:

Market Insights​

July 18, 2025

Japanese Yen Under Pressure: Upcoming Elections and Record Debt

The USD/JPY pair continues its upward trend, reaching 149.19 on Wednesday, July 16 — the highest level since April 3, 2025. It is currently trading...

Market Insights​

July 17, 2025

FTSE 100 Index Maintains Historic Uptrend Despite Global Challenges

The UK’s FTSE 100 index rose to a record high of 9,042 points on Tuesday, July 15, 2025. It has gained approximately 20% since the...

Market Insights​

July 16, 2025

With market optimism and U.S. congressional support: Bitcoin eyes unprecedented...

Bitcoin prices reached a new all-time high of $123,279 on Monday, July 14, 2025. The cryptocurrency has surged 26% since its recent low of $98,000...

Market Insights​

July 15, 2025

Silver Prices Continue to Rise, Outperforming Gold and Global Indices

Silver continues its upward trend, having reached $39.13 yesterday — the highest level since September 22, 2011. The main challenge ahead lies in breaking through...

Ready to Elevate Your Trading Journey?

Open a Taurex account and start trading today.

We’re Sorry

Access to tradetaurex.com
is unavailable in your region

tradetaurex.com is required to abide by global laws and therefore the information on this site is not directed at residents of the United States, Canada, North Korea, Iran, Myanmar, Belgium, Spain, France, Japan, South Korea or any particular countries and is not intended for distribution to, or use by, any person in an country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Live account Registration

1 Hour Trading Consultation

Chat on WhatsApp