Daily Technical Analysis: The British Pound Rises to the Highest Level Against the US Dollar in Eight Months

Sterling Pound continues its rise against the US dollar as the pair reached its highest level since September 2024. The pair closed above 1.3450 on the hourly chart, indicating more bullish momentum towards 1.3470 level.

Price is finding support at the short term moving average MA(5). The overall trend remains bullish. However, closing below the 1.3425 support level warns of more declines toward 1.3400 support level.

GBPUSD 1H Chart

Resistance	1.3469	1.3500	1.3537
Support	1.3441	1.3410	1.3389

The USDJPY pair has been in a downtrend for the past two weeks and now headed towards psychological and historical support level 142.00. Short term moving averages MA(5) and MA(10) are slopping downwards indicating bearish momentum.

Falling below 143.20 level may accelerate the selling pressure towards 142.81 level.

MACD shows bearish signs with the crossover and red bars on the histogram. The overall trend on the USDJPY remains bearish. Eyes on 143.75 in case of a bullish correction.

USDJPY 1H Chart

Resistance	144.00	144.40	144.75
Support	142.80	142.35	142.00

Gold (XAUUSD) 1H Chart

Since its bullish reversal on 15 May, gold has been recording higher highs and higher lows on the hourly chart, now targeting $3,345 resistance level. Moving averages MA(5) and MA(10) show a bullish crossover. Price is currently trading above the moving average MA(30).

As long as prices remain above the dynamic support of the uptrend at around the $3,300 levels, the overall view remains positive.

MACD is also showing a bullish sign with the crossover and moving above the zero line. Closing of the 1H candle above the mid-term moving average 30 indicates further upward movements.

Resistance	$3,335	$3,350	$3,374
Support	$3,300	$3,280	$3,273