GBP/USD is trading at 1.3223 (+0.21%) as of June 29, 2026, during the European session, after closing at 1.3195 the previous day. The pair's current level is within its day range of 1.3192 – 1.3228, and it remains below both its 20-day and 50-day simple moving averages at 1.3331 and 1.3430, respectively, indicating an ongoing downtrend. The Relative Strength Index (RSI) stands at 40.8, still in neutral territory, suggesting that the pair is not oversold or overbought. The Average True Range (ATR) of 0.0082 indicates moderate daily volatility.

The current price is slightly above the pivot level at 1.3200, with the first resistance level (R1) at 1.3220, which the pair has already tested, and the first support level (S1) at 1.3169. The market may be underpricing the potential for a bounce off S1, given the pair's proximity to it. A break below S1 could signal further downside, while a sustained move above R1 might indicate a short-term reversal.

Looking ahead, the upcoming US economic data releases could be a key catalyst for GBP/USD's direction. A stronger-than-expected US data release could exacerbate the downtrend, pushing the pair towards S1, while weaker data might facilitate a move towards R1.