GBP/USD reclaims 1.30 but it could have done so much better

An update here yesterday noted the technically positive close the night before in the GBP/USD. That close was above its 200 day moving average (then at 1.2814 and now at 1.2815). The GBP/USD had already reclaimed the 1.29 handle at the time of that update and since then it has reclaimed the 1.30 handle, but it truth it should have done better. The high seen overnight has been set at 1.3048. The reason why it has not performed better is once again all due to another push higher in the EUR/GBP. That cross has now lifted to a fresh 2025 high above 0.8700. The high there has been set at 0.8725. So that has stunted the upside for the GBP/USD and so far prevented it from getting close to the high seen last week, when it reached 1.3207. To give you a clue on how much the EUR/GBP has stood in the way of the GBP/USD. If that cross was back at around 0.8400, the GBP/USD would have risen to 1.3550. That clearly explains how much the GBP/USD has lagged the EUR/USD, at a time when the dollar itself has been hit hard. The GBP/USD is right now at 1.3005