GBP/USD 4-Hour Analysis
Technical Outlook — 11 April 2025
Current Market Condition:
GBP/USD on the 4-hour timeframe is showing signs of a potential short-term bounce as it trades around 1.3100. The price has recently moved above the 50-period EMA, indicating short-term bullish momentum, however nearing a death cross of 50EMA to 200MA. This will confirm bearish momentum.
Key Technical Highlights:
Price Action: The price has rallied from a recent low around 1.2700 and is now trading near 1.3100, above the 50-period EMA and 200 MA, signaling potential short-term buying interest.
Support and Resistance:
Resistance: Key resistance levels are identified at 1.3200 and 1.3300. The 200-period MA near 1.3150-1.3200 adds confluence to the first resistance zone.
Support: Key support levels below the current price are at 1.2900, 1.2700, and 1.2600, with 1.2900 being the nearest significant support.
Momentum Indicator: The stochastic oscillator at the bottom is heading in overbought territory signalling exhaustion.
Possible Scenarios:
Bearish Scenario (Higher Probability):
If the price fails to break above resistance level around 1.3150-1.3200 and shows a rejection (e.g., a bearish candlestick pattern like a shooting star), the bearish bias is likely to persist.
A drop below the 50-period EMA and the recent swing low at 1.2900 could lead to further declines toward the 1.2700 support, with deeper support at 1.2600.
Bullish Scenario (Moderate Probability):
If the price sustains above the 50-period EMA and breaks through the resistance level of 1.3200 with a strong 4-hour candlestick close, it could signal a short-term bullish move.
A confirmed break above 1.3200 may lead to a test of the next resistance at 1.3400, supported by the upward momentum in the oscillator.
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Disclaimer: This content is intended for educational purposes only and does not constitute financial advice. Trading involves risk, and past performance is not indicative of future results.
Technical Outlook — 11 April 2025
Current Market Condition:
GBP/USD on the 4-hour timeframe is showing signs of a potential short-term bounce as it trades around 1.3100. The price has recently moved above the 50-period EMA, indicating short-term bullish momentum, however nearing a death cross of 50EMA to 200MA. This will confirm bearish momentum.
Key Technical Highlights:
Price Action: The price has rallied from a recent low around 1.2700 and is now trading near 1.3100, above the 50-period EMA and 200 MA, signaling potential short-term buying interest.
Support and Resistance:
Resistance: Key resistance levels are identified at 1.3200 and 1.3300. The 200-period MA near 1.3150-1.3200 adds confluence to the first resistance zone.
Support: Key support levels below the current price are at 1.2900, 1.2700, and 1.2600, with 1.2900 being the nearest significant support.
Momentum Indicator: The stochastic oscillator at the bottom is heading in overbought territory signalling exhaustion.
Possible Scenarios:
Bearish Scenario (Higher Probability):
If the price fails to break above resistance level around 1.3150-1.3200 and shows a rejection (e.g., a bearish candlestick pattern like a shooting star), the bearish bias is likely to persist.
A drop below the 50-period EMA and the recent swing low at 1.2900 could lead to further declines toward the 1.2700 support, with deeper support at 1.2600.
Bullish Scenario (Moderate Probability):
If the price sustains above the 50-period EMA and breaks through the resistance level of 1.3200 with a strong 4-hour candlestick close, it could signal a short-term bullish move.
A confirmed break above 1.3200 may lead to a test of the next resistance at 1.3400, supported by the upward momentum in the oscillator.
If you found this analysis valuable, kindly consider boosting and following for more updates.
Disclaimer: This content is intended for educational purposes only and does not constitute financial advice. Trading involves risk, and past performance is not indicative of future results.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.