GBP/USD traded around 1.3520 during Asian hours on Tuesday, following modest gains in the previous day, and is approaching the nine-day Exponential Moving Average (EMA) support near 1.3500 [1]. Technical analysis indicates the pair maintains a mildly bullish near-term bias, as it remains above both the nine-period and 50-period EMAs, with the short-term EMA positioned above the longer one, suggesting constructive momentum [1]. The 14-day Relative Strength Index (RSI) is at approximately 59, indicating positive territory without signaling overbought conditions, which implies potential for further gains if the pair remains supported on dips [1].
Key resistance levels include the two-month high of 1.3599, recorded on April 17, and the upper boundary of the ascending channel around 1.3750. A break above this channel could reinforce the bullish bias and potentially drive GBP/USD toward 1.3869, the highest level since September 2021, which was last reached on January 27 [1]. On the downside, immediate support is seen at the lower boundary of the ascending channel near 1.3500, followed by the nine-day EMA at 1.3493. A sustained decline below this support zone could lead to further downside toward the 50-day EMA at 1.3423, and a break below this level would expose the nearly five-month low of 1.3159, recorded on March 31, and the 1.3010 level, the lowest since April 2025, recorded in November 2025 [1].
In terms of currency performance, the British Pound was the weakest against the New Zealand Dollar, declining by 0.43% on the day. Against the US Dollar, the Pound fell by 0.10% [1]. The heat map of major currencies shows that the GBP also posted minor losses against the Euro (-0.02%), Japanese Yen (-0.10%), and Australian Dollar (-0.01%) [1].
No explicit analyst opinions or forward-looking statements beyond the technical analysis were provided in the article [1].
CONCLUSION
GBP/USD is trading near key technical support levels, with a mildly bullish bias persisting as long as the pair holds above the nine-day and 50-day EMAs. The Pound's relative weakness against major currencies, particularly the New Zealand Dollar, highlights some short-term pressure. Market participants will be watching for a break of key resistance or support levels to determine the next directional move.