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Prezzi
fxJun 9, 2026, 10:45 PM

GBP/USD Rally Fades After Touching 200-Day EMA

Sterling briefly rallied on Tuesday, pushing GBP/USD above 1.3400 before retreating as resistance at the 200-day EMA held.

GBPUSD

Sterling received a boost from positive domestic data on Tuesday, briefly breaking above the 1.3400 level. The pair rallied from just under 1.3350 to a high near 1.3405, touching the 200-day Exponential Moving Average (EMA) for the first time in recent sessions.

However, the gains proved short-lived. GBP/USD spent the remainder of the day slipping back below the 1.3400 handle, erasing most of the earlier advance. The failure to sustain above the key moving average suggests the pair remains range-bound in the near term.

Traders will now watch for further catalysts, with domestic economic releases and broader risk sentiment likely to drive the next directional move.

Source: FXStreet Forex News