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Mar 07, 2025

GBP/USD chart on the hourly time frame

GBP/USD chart on the hourly time frame

The GBP is currently trading at 1.2932, trying to maintain its positive momentum as markets await important economic data. The pair is still moving within an ascending range, benefiting from the weak dollar and monetary policy expectations.

  • Nearby resistance: 1.2980 – breaking it could push the price towards 1.3050.
  • Main support: 1.2880 – breaking it could increase selling pressure and push the pair towards 1.2800.

All eyes are on the US labor market data, which could affect the dollar’s ​​movements and thus the performance of the sterling in the upcoming sessions.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.29625
1.29503
1.29438
1.29328
1.29213
1.29141
1.29026
EUR/USD chart on the hourly time frame

EUR/USD chart on the hourly time frame

The EUR is currently trading at 1.0860, recording a significant increase as pressures on the USD continue. Support comes from expectations of a US interest rate freeze, along with positive economic data from the Eurozone.

  • Nearby Resistance: 1.0900 – Breaking it could push the price towards 1.0950.
  • Major Support: 1.0820 – Breaking it could push the price back towards 1.0780.

Markets are awaiting the release of US employment data, which could determine the next direction for the EUR/USD.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.08856
1.08759
1.08695
1.08590
1.08491
1.08423
1.08322
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