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.
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.
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.
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