GBP/USD Technical Analysis April 2, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 2, 2025, the GBP/USD pair is trading around 1.2914.
Relative Strength Index (RSI): The RSI indicator on the 4-hour chart is near 50, indicating neutral momentum without clear overbought or oversold conditions.
Moving Averages:
20-period SMA: The pair is encountering resistance around the 20-period Simple Moving Average, suggesting a consolidation phase.
50-period and 100-period SMAs: GBP/USD is trading near these moving averages, reflecting indecisive price action.
Support and Resistance Levels:
Support:
1.2900: A psychological level providing immediate support.
1.2885: Identified as a support area where buyers may emerge.
Resistance:
1.2954: Marked as the first resistance level, aligning with daily R1.
1.2977: The next resistance level, corresponding to daily R2.
Fundamental Factors:
U.S. Tariff Announcement: President Donald Trump is scheduled to announce new tariffs on imports today, termed “Liberation Day.” These tariffs aim to impose reciprocal duties on countries taxing U.S. goods, potentially impacting global trade dynamics and influencing the USD.
UK Economic Data: The UK Manufacturing PMI has declined to a 17-month low, indicating contraction in the manufacturing sector. This development may affect investor sentiment toward the GBP.
Conclusion:
The GBP/USD pair is currently consolidating around the 1.2914 level, with key support at 1.2900 and resistance at 1.2954. Traders should closely monitor the upcoming U.S. tariff announcement and UK economic indicators, as these events could significantly influence the pair’s direction.
EUR/USD Technical Analysis April 2, 2025