GBPUSD H4 3 April 2024

GBP/USD, H4 3 April 2024

Yesterday, the Pound Sterling experienced a technical rebound against the U.S. dollar, spurred by the latest U.S. job data, which slightly underperformed expectations. Despite this rebound, the Sterling's gains remain tempered. Heightened market speculation that the Federal Reserve may postpone its anticipated rate cuts has maintained a bullish trajectory for the dollar, exerting continuous pressure on the Sterling, which has struggled to find its footing.

GBP/USD remains on a bearish trajectory despite recording a technical rebound yesterday. Suggesting that the bearish momentum is overwhelming.


Resistance level: 1.2660, 1.2760📉

Support level: 1.2540, 1.2440📈