GBPUSD: hovers around 1.2600

GBP/USD holds ground around 1.2600 in the European session on Thursday. The pair is helped by a modest US Dollar downtick but broad risk-off mood due to renewed tariff threats from US President Donald Trump could limit the risk sensitive Pound Sterling.

GBP/USD Technical Overview

The Relative Strength Index (RSI) indicator on the 4-hour chart declines toward 50, reflecting a loss of bullish momentum. On the downside, 1.2530 (Fibonacci 61.8% retracement level of the latest downtrend) aligns as first resistance before 1.2500 (round level, static level) and 1.2470 (100-period Simple Moving Average).

Looking north, first resistance could be spotted at 1.2650 (Fibonacci 78.6% retracement) before 1.2700-1.2710 (round level, static level).