What triggered pound vs dollar latest price surge

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Pound sterling rises 0.51% today

Highlights

Cable trades at $1.3618, above the MA-20 ($1.3605), MA-50 ($1.3513), and MA-200 ($1.3404), indicating near-term upward momentum and strong support.
Momentum remains positive with a bullish MACD and firm ADX on the daily chart, but mixed RSI and oscillator signals suggest caution due to lingering overbought conditions.
Key technical range for the coming week is $1.3583–$1.3651, with resistance at $1.3650 and support at Kijun ($1.3594); upside probability exceeds 80%.

Anton Kharitonov, expert at Traders Union, sees the recent rally in Pound Sterling as fragile. He notes that, despite price trading above key moving averages, core momentum indicators give mixed signals. The daily RSI slipping below 50 and oversold readings on oscillators suggest a softening of upward drive. Absence of supportive news weakens sentiment and raises caution about sustainability. "Until buyers show clear control or news momentum returns, I see a greater risk of a deeper pullback to $1.3513 or lower."

Viktoras Karapetjanc, expert at Traders Union, points to a strong bullish structure driven by solid price action above all major moving averages. Despite a lack of positive headlines, he believes technical strength and market flows continue to support further gains. He sees limited downside, with sellers unable to break key supports. A break above $1.3650 could unlock fresh upside opportunities. "I remain constructive on cable — multiple setups support further growth toward new highs above $1.3650."

Jainam Mehta, market strategist, views near-term price consolidation as likely given mixed oscillator signals. He highlights that intraday buyer strength may offer tactical breakout plays if resistance at $1.3650 fails. Downside risk should be managed with stops near $1.3594. "If short-term sentiment flips and price holds above $1.3650, I would look for a potential bullish breakout setup."

Mixed momentum signals as resistance converges with bullish bias

Immediate support sits just below current levels near the Ichimoku Kijun ($1.3594), while resistance concentrates at the MA-50 or the next psychological round number at $1.3650 if bullish momentum continues. Momentum on the daily chart is positive, underpinned by a firm ADX reading and a strong bullish MACD, though the D1 RSI slipped below 50 and both Stoch RSI and CCI reflect oversold or neutral conditions, resulting in mixed signals. Bull/Bear Power suggests sellers are still active on the daily chart, yet short-term intraday timeframes show buyers in control. The Awesome Oscillator is neutral, offering no confirmation of the prevailing trend.

Last time, analysts noted that GBP/USD was trading just below its short-term moving average yet remained firmly above medium- and long-term averages, indicating mild short-term weakness within a broader bullish trend. Momentum indicators showed mixed signals, with daily MACD and ADX reflecting moderate bullish momentum, while oscillators like RSI and Stoch RSI revealed near-term uncertainty amid ongoing selling pressure and modest volatility.

Source of Data: GBP Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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