GBP/USD Technical Analysis April 7, 2025
Current Price Levels and Technical Indicators:
As of 7:00 GMT on April 7, 2025, the GBP/USD pair is trading at approximately 1.2929. The Relative Strength Index (RSI) on the 4-hour chart is near 55, indicating neutral momentum. The pair is positioned slightly above the 50-day Exponential Moving Average (EMA), suggesting a tentative bullish bias.
Support and Resistance Levels:
Support: Immediate support is observed at 1.2800.
Resistance: The first resistance level is at 1.3065.
Fundamental Factors:
The recent announcement of extensive U.S. tariffs has heightened fears of a global recession, leading to increased market volatility. Investors are closely monitoring these developments, as they may influence the Federal Reserve’s monetary policy decisions, potentially affecting the USD’s strength. Additionally, the implementation of China’s retaliatory tariffs is contributing to market uncertainty.
Conclusion:
The GBP/USD pair is currently exhibiting a cautious bullish bias, with key support at 1.2800 and resistance at 1.3065. Traders should remain vigilant of ongoing trade tensions and upcoming economic data releases, as these factors could significantly impact price movements.
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