Key Highlights
- GBP/USD gained bullish momentum for a move toward 1.3700.
- Bitcoin dipped below $88,000 and $87,000 before it found some support.
- USD/JPY nosedived below the key support at 155.50.
- Gold extended its surge to a new record high above $5,100.
GBP/USD Technical Analysis
The British Pound remained stable above 1.3450 against the US Dollar. GBP/USD started a strong increase above 1.3500 and 1.3550.
Looking at the 4-hour chart, the pair cleared many such as a bearish trend line, the 200 simple moving average (green, 4-hour), and the 100 simple moving average (red, 4-hour). The bulls even pumped the pair above 1.3620.
A high was formed at 1.3682, and the pair is now consolidating gains. Immediate resistance sits near 1.3680. The first key hurdle could be 1.3720. A close above 1.3720 could open the doors for a move toward 1.3800. Any more gains could set the pace for a steady increase toward 1.3880.
If there is no move above 1.3720, there could be a pullback. On the downside, immediate support is near the 1.3600 level. The first major area for the bulls might be near 1.3550.
The main support sits at 1.3520 and 1.3500, below which the pair could accelerate lower. The next support could be 1.3460 and the 100 simple moving average (red, 4-hour). Any more losses might call for a test of 1.3400.
Looking at Gold, the bulls remained in action and were able to pump the price to a new milestone record high above $5,100.
Upcoming Key Economic Events:
- US Housing Price Index for Nov 2025 (MoM) – Forecast +0.3%, versus +0.4% previous.
- ECB’s Nagel speech.
- ECB’s President Lagarde speech.
