GBP/USD Technical Analysis April 10, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 10, 2025, the GBP/USD pair is trading around 1.2850. The Relative Strength Index (RSI) is approaching the overbought threshold, indicating increased buying pressure. The pair is trading above the 20-day Simple Moving Average (SMA), suggesting a short-term bullish trend.
Support and Resistance Levels:
Immediate resistance is observed near the 1.2845 level. On the downside, support is seen around 1.2615.
Fundamental Factors:
The British Pound has come under pressure following the release of weaker-than-expected data from the RICS Housing Price Balance, which showed just a 2% increase in March. Additionally, the US dollar has come under pressure amid fears of a potential U.S. recession, worsened by trade disruptions.
Conclusion:
The GBP/USD pair exhibits bullish momentum, approaching key resistance levels. Traders should monitor upcoming economic events and central bank communications for potential impacts on the pair’s trajectory.
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