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May 20, 2025

GBP/USD chart on the hourly time frame

GBP/USD chart on the hourly time frame

The British pound traded steadily, supported by encouraging labor data from the UK. However, uncertainty surrounding the Bank of England’s next move continues to weigh. If economic indicators disappoint this week, the pair may decline further. On the upside, improved sentiment could push it closer to 1.3420.
 
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.33733
1.33704
1.33684
1.33649
1.33614
1.33587
1.33563
EUR/USD chart on the hourly time frame

EUR/USD chart on the hourly time frame

The euro remained range-bound amid a lack of impactful data from the eurozone. Markets are awaiting fresh guidance from the ECB regarding inflation trends. As long as the cautious tone persists, the euro may continue to trade between 1.1220 and 1.1290.
 
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.12550
1.12508
1.12484
1.12446
1.12408
1.12383
1.12342
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