GBP/USD Price Analysis – April 16, 2025
Daily Price Outlook
During the European trading session on Wednesday, the GBP/USD saw a rise, reversing earlier losses, after the UK released softer-than-expected March Consumer Price Index (CPI) data.
Meanwhile, the headline CPI increased by 2.6% year-on-year, slightly below the 2.7% forecast and down from February’s 2.8%. Core inflation, which excludes food and energy, rose by 3.4%, missing the 3.5% expectation. The month-on-month CPI grew by 0.3%, down from 0.4% in February, showing easing inflation in the UK.
As a result of the softer inflation data, markets are adjusting their expectations for the Bank of England's future policy. The cooling inflation in the services sector, now at 4.7% from 5%, and the weak labor market outlook raise the chances of a dovish shift by the BoE in May.
The rise in employers' social security contributions could add pressure on the UK economy, making rate hikes less likely. This has boosted demand for the Pound, pushing GBP/USD to 1.3272, with an intra-day high of 1.3293.
USD Struggles Amid Recession and Trade War Concerns
On the other hand, the US dollar continues to face bearish trend due to concerns about a potential recession and ongoing trade tensions.
These concerns are primarily linked to US President Trump’s economic policies and trade wars, which are raising fears of a slowdown.
The 90-day tariff pause on some US trading partners, excluding China, has failed to reassure markets, with investors still wary of the long-term impacts.
The US economy’s inability to quickly replace Chinese imports could lead to higher prices for substitute goods, dampening consumer spending and economic growth.
Impact of US Dollar Weakness on GBP/USD Amid Trade War Concerns
On the other side, concerns about the ongoing trade war, especially with China, are adding to the US Dollar’s weakness.
The US is still working on trade deals with several countries, including the UK, but the uncertainty surrounding these talks and the potential impact of tariffs is causing worry in the market.
As tariffs increase the cost of imports and put pressure on consumer spending, the outlook for the US economy remains unclear, which is further hurting the US Dollar and causing it to underperform.
Therefore, the US Dollar's weakness, driven by trade war concerns, could benefit the GBP/USD pair, pushing the British Pound higher as market uncertainty reduces confidence in the Dollar's strength.
GBP/USD – Technical Analysis
GBP/USD is extending its upward momentum after confirming a breakout above the key $1.3207 Fibonacci level. The pair has now entered a higher resistance zone, targeting the 1.272 Fibonacci extension at $1.3340.
The rally from the $1.2700 region has been steady, with price consistently printing higher highs and respecting short-term support levels — a sign of sustained buyer interest.
The 50-period Simple Moving Average (SMA), currently at $1.2981, is sloping upward and well below the current price, underlining the strength of the bullish structure.
Momentum indicators also support this trend, with the Relative Strength Index (RSI) at 74.1, showing overbought conditions but not yet diverging. This could signal that bullish sentiment remains intact, though short-term pullbacks should not be ruled out.
Immediate resistance lies at $1.3340. A break above this could expose the next key levels at $1.3412 and $1.3512. On the downside, the first support is seen at $1.3207 — the breakout level — followed by $1.3133, which marks the lower boundary of the most recent bullish impulse.
While overbought signals warrant some caution, price action suggests that dips may offer renewed buying opportunities as long as the pair holds above $1.3133.
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GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Momentum Builds: GBP/USD extends gains beyond $1.3207, targeting the $1.3340 extension.
- Trend Confirmation: Price is well above the 50-SMA, supporting the bullish case.
- Watch RSI: At 74.1, the indicator warns of limited near-term upside without pause.
GBP/USD is extending its upward momentum after confirming a breakout above the key $1.3207 Fibonacci level. The pair has now entered a higher resistance zone, targeting the 1.272 Fibonacci extension at $1.3340.
The rally from the $1.2700 region has been steady, with price consistently printing higher highs and respecting short-term support levels — a sign of sustained buyer interest.
The 50-period Simple Moving Average (SMA), currently at $1.2981, is sloping upward and well below the current price, underlining the strength of the bullish structure.
Momentum indicators also support this trend, with the Relative Strength Index (RSI) at 74.1, showing overbought conditions but not yet diverging. This could signal that bullish sentiment remains intact, though short-term pullbacks should not be ruled out.
Immediate resistance lies at $1.3340. A break above this could expose the next key levels at $1.3412 and $1.3512. On the downside, the first support is seen at $1.3207 — the breakout level — followed by $1.3133, which marks the lower boundary of the most recent bullish impulse.
While overbought signals warrant some caution, price action suggests that dips may offer renewed buying opportunities as long as the pair holds above $1.3133.
GBP/USD - Trade Ideas
Entry Price – Buy Above 1.32071
Take Profit – 1.33400
Stop Loss – 1.31333
Risk to Reward – 1: 1.8
Profit & Loss Per Standard Lot = +$1329/ -$738
Profit & Loss Per Mini Lot = +$132/ -$73
GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Breakout above $1.31025 strengthens bullish outlook
- RSI in overbought zone signals momentum, but caution warranted
- Trendline structure and SMA support the upward bias
The British pound has resumed its climb against the U.S. dollar, currently trading at $1.31659 after holding the uptrend support. The pair broke above the critical $1.31025 pivot level, turning it into new support and validating a bullish continuation setup.
RSI is above 73, suggesting buying momentum remains elevated, although price is now flirting with overbought conditions.
Price action is aligned with a rising trendline, and as long as that structure holds, the bullish case toward $1.32078 remains valid. If this resistance breaks convincingly, GBP/USD could extend to $1.32697, and potentially toward the psychological barrier at $1.33236. A pullback below $1.31025, however, would expose the market to deeper corrections toward $1.30387 and $1.29847.
The technical setup favors a bullish bias as long as price stays above $1.31025. Traders may consider initiating long positions on a sustained break, aiming for $1.32078 while managing risk tightly below $1.30387.
GBP/USD - Trade Ideas
Entry Price – Buy Above 1.31025
Take Profit – 1.32078
Stop Loss – 1.30387
Risk to Reward – 1: 1.6
Profit & Loss Per Standard Lot = +$1053/ -$638
Profit & Loss Per Mini Lot = +$105/ -$63
GBP/USD Price Analysis – April 14, 2025
Daily Price Outlook
During the early European session on Monday, the GBP/USD pair extended its winning streak, climbing near the 1.3190 mark, its highest level in over two months.
The pair aims to reclaim the six-month high of 1.3207 as the US dollar continues to lose ground amid escalating trade tensions and policy uncertainty in the United States. The ongoing weakness in the US Dollar has been a key driver of the pair’s bullish momentum.
US Dollar Weakens Amid Escalating US-China Trade Tensions and Consumer Sentiment Drop
However, the reason for its bullish trend could be attributed to renewed trade tensions between the US and China. Despite US President Donald Trump announcing a 90-day pause on reciprocal tariffs, the situation escalated when China raised tariffs on US goods to 125%.
This back-and-forth has shaken investor confidence in the US Dollar, causing the US Dollar Index (DXY) to drop to 99.00, its lowest point in three years.
Moreover, Trump’s push to bring manufacturing back to the US has raised concerns among American business owners, who worry about sudden policy changes.
These uncertainties have had an impact on consumer sentiment, with the University of Michigan’s Consumer Sentiment Index falling sharply to 50.8 in April, far below expectations.
Dollar Weakens Amid Fed's Rate Cut Expectations and Economic Uncertainty
On the other side, the Dollar's troubles have deepened as market participants now expect the Federal Reserve to cut interest rates at its June meeting. Although the Fed is being cautious, New York Fed President John Williams admitted that predicting the economy is tough given the current political climate.
This uncertainty has made traders expect a more dovish stance from the Fed, which has weakened the US Dollar even further, helping push GBP/USD higher.
UK Economic Data and Trade Tensions Support the Pound
On the other hand, the British Pound has shown strength, supported by positive expectations ahead of important UK economic data.
Labor market and CPI figures due this week are expected to show slight softness in wage and inflation growth, which could reinforce the idea that the Bank of England (BoE) might cut rates in May. Despite this, the Pound remains strong as the UK government takes a proactive approach to handle global trade disruptions.
Former BoE Deputy Governor Charlie Bean has suggested aggressive rate cuts, while Chancellor Rachel Reeves emphasized the need to boost the UK’s trade presence.
Reeves is confident in securing new trade deals with both the EU and the US, aiming to protect the UK economy from external challenges.
Looking ahead, the GBP/USD pair is likely to stay supported as the Fed and BoE follow different policy paths, and ongoing trade uncertainties continue to pressure the US Dollar.
If UK data meets or exceeds expectations and global trade tensions remain, the pair could break above the 1.3200 level in the near future.
GBP/USD – Technical Analysis
The British pound has resumed its climb against the U.S. dollar, currently trading at $1.31659 after holding the uptrend support. The pair broke above the critical $1.31025 pivot level, turning it into new support and validating a bullish continuation setup.
RSI is above 73, suggesting buying momentum remains elevated, although price is now flirting with overbought conditions.
Price action is aligned with a rising trendline, and as long as that structure holds, the bullish case toward $1.32078 remains valid. If this resistance breaks convincingly, GBP/USD could extend to $1.32697, and potentially toward the psychological barrier at $1.33236. A pullback below $1.31025, however, would expose the market to deeper corrections toward $1.30387 and $1.29847.
The technical setup favors a bullish bias as long as price stays above $1.31025. Traders may consider initiating long positions on a sustained break, aiming for $1.32078 while managing risk tightly below $1.30387.
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GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- GBP/USD faces selling pressure below $1.2835.
- RSI shows weak momentum; 50-SMA caps recovery.
- Breakdown below $1.2707 could open room toward $1.2559.
The British pound is attempting a short-term recovery against the U.S. dollar, but gains remain capped below the $1.2835 resistance. After plunging from the $1.3150 high, GBP/USD has been testing broken support levels as resistance, with the pair currently hovering near the trendline retest zone.
Despite the bounce from $1.2711 support, price action remains fragile as the 50-SMA near $1.2923 reinforces downside pressure.
The Relative Strength Index (RSI) sits at 45.5, showing a modest uptick in momentum, though still beneath the bullish threshold of 50.
This suggests a recovery is underway but lacks strong conviction. A sustained break below $1.2835 could trigger another leg lower toward $1.2707, with a deeper slide targeting $1.2638 and $1.2559.
From a risk-reward perspective, sellers may view this as a favorable zone to reenter, given the clear rejection at trendline resistance. On the upside, only a clean break above $1.2906 would negate the bearish structure and shift momentum toward $1.2983.
Traders watching macro catalysts, including U.S. CPI data this week, should remain cautious. Until then, short setups remain technically favorable below $1.2835, targeting a retest of recent lows near $1.2707, with a stop above $1.2906 to manage risk.
GBP/USD - Trade Ideas
Entry Price – Sell Below 1.28358
Take Profit – 1.27078
Stop Loss – 1.29068
Risk to Reward – 1: 1.8
Profit & Loss Per Standard Lot = +$1280/ -$710
Profit & Loss Per Mini Lot = +$128/ -$71
GBP/USD Price Analysis – April 09, 2025
Daily Price Outlook
During the early European trading session, the GBP/USD currency pair continued its upward momentum and remained well-supported above the 1.2800 mark, reaching an intraday high of 1.2864. The rise was largely driven by easing trade tensions and growing expectations that the Federal Reserve might cut interest rates soon. This positive sentiment helped the pair stay strong as market participants continued to react to the possibility of a more dovish Fed stance.
GBP/USD Rally Supported by Renewed Trade Optimism and US Negotiation Signals
However, the bullish rally in the GBP/USD pair was boosted by renewed optimism after US President Donald Trump expressed a willingness to negotiate with global trade partners. This signaled a potential easing of ongoing trade tensions. His comments came as US Customs and Border Protection announced plans to start collecting country-specific tariffs from 86 trade partners.
Despite maintaining his broader tariff plans, President Trump indicated a willingness to engage in discussions, sparking hopes for a more conciliatory approach to global trade relations.
Meanwhile, Treasury Secretary Scott Bessent noted that nearly 70 countries, including Japan, had reached out to Washington for talks, further fueling optimism about a potential resolution. This reduction in trade uncertainties has allowed the GBP to gain support, as UK firms stand to benefit from a decrease in US tariffs.
GBP/USD Boosted by US Rate Cut Expectations and Fed's Dovish Outlook
Apart from this, the ongoing expectations about US monetary policy are also contributing to the strengthening of the British Pound. Markets are now predicting a 25-basis-point rate cut from the Federal Reserve as early as May, with a larger cut expected by July.
According to the CME FedWatch Tool, traders are expecting the Fed to lower rates by more than 100 basis points by the end of the year. This outlook puts pressure on the US Dollar, which in turn helps push the GBP/USD pair higher.
At the same time, Chicago Fed President Austan Goolsbee highlighted that future monetary policy decisions will be based on economic data, fueling speculation that the Fed might adopt a more dovish approach. However, the concerns about the negative impact of tariffs on the US economy are growing, and traders believe the Fed may need to change its policy to help support economic growth.
This growing uncertainty around the Fed’s actions is putting additional pressure on the US Dollar, further supporting the rise of GBP/USD.
GBP/USD Strength Driven by UK’s Economic Resilience and Shifting Rate Cut Expectations
At the UK front, the country’s relatively low exposure to tariffs, estimated at just 10%, puts it in a better position to handle the impact of global trade tensions compared to other nations. The UK government has also pointed out that the direct effect of tariffs on GDP will be minimal, less than 0.1%. In addition, rising UK gilt yields, with the 10-year yield reaching 4.61%, reflect increasing investor confidence in the UK economy, which further strengthens the British Pound.
Meanwhile, market expectations for rate cuts by the Bank of England (BoE) are also growing. After recent tariff developments, the market now fully expects a rate cut in May, up from 50% previously, and predicts further cuts through 2025. This shift in expectations for both the US and UK central banks is setting up the GBP/USD pair for continued strength in the near future.
GBP/USD – Technical Analysis
The British pound is attempting a short-term recovery against the U.S. dollar, but gains remain capped below the $1.2835 resistance. After plunging from the $1.3150 high, GBP/USD has been testing broken support levels as resistance, with the pair currently hovering near the trendline retest zone.
Despite the bounce from $1.2711 support, price action remains fragile as the 50-SMA near $1.2923 reinforces downside pressure.
The Relative Strength Index (RSI) sits at 45.5, showing a modest uptick in momentum, though still beneath the bullish threshold of 50.
This suggests a recovery is underway but lacks strong conviction. A sustained break below $1.2835 could trigger another leg lower toward $1.2707, with a deeper slide targeting $1.2638 and $1.2559.
From a risk-reward perspective, sellers may view this as a favorable zone to reenter, given the clear rejection at trendline resistance. On the upside, only a clean break above $1.2906 would negate the bearish structure and shift momentum toward $1.2983.
Traders watching macro catalysts, including U.S. CPI data this week, should remain cautious. Until then, short setups remain technically favorable below $1.2835, targeting a retest of recent lows near $1.2707, with a stop above $1.2906 to manage risk.
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GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- Bearish bias below $1.2955, with the 50 SMA and Fibonacci resistance reinforcing downside pressure.
- Support at $1.2821 is critical—a break below could accelerate the move toward $1.2769 and $1.2720.
- RSI at 38.71 signals increasing bearish momentum, with rallies likely to face resistance unless $1.2955 is reclaimed.
After an aggressive sell-off from $1.3206, the British pound (GBP/USD) has entered a corrective phase, but gains remain capped below the $1.2955 resistance level. The pair is trading just under the 50-period SMA at $1.2957, which coincides with the 38.2% Fibonacci retracement—now acting as resistance.
Price failed to sustain above the key pivot at $1.2913 and is hovering near a critical support zone. If this level breaks, it may open the door toward $1.2821, where the ascending trendline converges with horizontal support.
Downside pressure is reinforced by a sharply falling RSI, currently at 38.71, suggesting bearish momentum still has room to run. The 50 SMA has flattened, pointing to market indecision in the near term. A deeper pullback could extend toward $1.2769 or even $1.2720 if $1.2821 fails to hold.
That said, upside risks remain if GBP/USD can clear $1.2955 decisively. A sustained move higher could see the pair test $1.3014 and $1.3060—levels aligning with the 50% and 61.8% retracements of the recent drop.
However, without a clean break above the 50 SMA and Fibonacci cluster, rallies are likely to face selling pressure. Bias favors the downside as long as price stays below $1.2955. Break below $1.2821 opens room for deeper retracement toward $1.2720.
GBP/USD - Trade Ideas
Entry Price – Sell Below 1.29548
Take Profit – 1.28216
Stop Loss – 1.30258
Risk to Reward – 1: 1.8
Profit & Loss Per Standard Lot = +$1332/ -$710
Profit & Loss Per Mini Lot = +$133/ -$71
GBP/USD Price Analysis – April 07, 2025
Daily Price Outlook
During the European trading session, the GBP/USD currency pair has gained some bullish momentum, reaching an intra-day high of 1.2934.
However, this recovery seems to lack strong conviction, as the broader global economic outlook remains uncertain. Despite this, the pair is getting a lift from the ongoing decline in the US Dollar, which has been weakening due to changing market expectations.
Bearish US Dollar Outlook Amid Trade War Concerns and Fed Rate Cut Expectations
However, the reason for the weaker US dollar is growing concern about global economic growth, sparked by US President Donald Trump's announcement of large reciprocal tariffs.
These tariffs have raised fears of a prolonged trade war, which could slow down global economic activity. This uncertainty has shaken investor confidence, leading to lower risk appetite and significant losses in global stock markets.
While the US Dollar initially strengthened as a safe-haven currency, its rise has started to slow down as market expectations shift towards the Federal Reserve taking a more dovish approach.
Therefore, this shift in market expectations has led to a more cautious outlook for the USD. Investors now expect the Federal Reserve to start cutting rates again, especially if the US economy slows down due to the tariffs.
As a result, the USD has had trouble attracting buyers, which has helped support the GBP/USD pair.
GBP Strengthened by BoE's Slower Rate Cuts and Positive Outlook for GBP/USD
On the other hand, the British Pound has drawn support from expectations that the Bank of England (BoE) will slow its pace of rate cuts compared to other central banks, including the Fed.
Therefore, the BoE's slower pace of rate cuts compared to the Fed strengthens the GBP, supporting a more positive outlook for the GBP/USD pair, potentially leading to upward movement in its value.
GBP/USD – Technical Analysis
After an aggressive sell-off from $1.3206, the British pound (GBP/USD) has entered a corrective phase, but gains remain capped below the $1.2955 resistance level. The pair is trading just under the 50-period SMA at $1.2957, which coincides with the 38.2% Fibonacci retracement—now acting as resistance.
Price failed to sustain above the key pivot at $1.2913 and is hovering near a critical support zone. If this level breaks, it may open the door toward $1.2821, where the ascending trendline converges with horizontal support.
Downside pressure is reinforced by a sharply falling RSI, currently at 38.71, suggesting bearish momentum still has room to run. The 50 SMA has flattened, pointing to market indecision in the near term. A deeper pullback could extend toward $1.2769 or even $1.2720 if $1.2821 fails to hold.
That said, upside risks remain if GBP/USD can clear $1.2955 decisively. A sustained move higher could see the pair test $1.3014 and $1.3060—levels aligning with the 50% and 61.8% retracements of the recent drop.
However, without a clean break above the 50 SMA and Fibonacci cluster, rallies are likely to face selling pressure. Bias favors the downside as long as price stays below $1.2955. Break below $1.2821 opens room for deeper retracement toward $1.2720.
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GBP/USD Price Analysis and Trade Forecast: Daily Trading Signal
Daily Price Outlook
- GBP/USD hovers above trendline support at $1.2909.
- Momentum lacks conviction; RSI near midline.
- Bullish trigger lies above $1.2909, targeting $1.2966.
GBP/USD is consolidating just above the $1.2909 threshold, testing trendline support while trading slightly below the 50-SMA at $1.2932.
The pair’s structure is largely range-bound, with repeated attempts to break above $1.2972 meeting firm resistance.
Today’s price action remains cautious as traders await fresh macro catalysts. The RSI stands at 48.50, signaling indecision with a slight bearish divergence against recent higher lows in price.
A break and sustained move above the entry trigger at $1.2909 could initiate a recovery toward $1.2966, which marks the top of the recent range and immediate resistance.
The bullish case is supported by a confluence of support levels, including rising trendline support from the March lows and the psychological zone near $1.2874.
However, any failure to hold the $1.2874 level would likely expose $1.2843 and potentially $1.2813, reintroducing a bearish bias in the near term.
The technical bias remains neutral-to-bullish above $1.2909. A breakout above $1.2932 could lift the pair toward $1.2966, while a drop below $1.2874 would negate the setup.
GBP/USD - Trade Ideas
Entry Price – Buy Above 1.29098
Take Profit – 1.29660
Stop Loss – 1.28731
Risk to Reward – 1: 1.5
Profit & Loss Per Standard Lot = +$562/ -$367
Profit & Loss Per Mini Lot = +$56/ -$36
GBP/USD Price Analysis – April 02, 2025
Daily Price Outlook
During the European trading session, the GBP/USD pair faced a notable rally, holding its ground around the 1.2950 level and reaching an intra-day high of 1.2950.
However, the British Pound’s strength came primarily from a weaker US Dollar, which helped push the pair higher. However, market sentiment remained cautious ahead of the much-anticipated announcement of a reciprocal tariff plan by US President Donald Trump later in the day.
Trump’s “Liberation Day” Tariffs Raise Inflation Concerns and GBP/USD Volatility
US President Trump’s “Liberation Day” plan aims to impose tariffs on imports, potentially as high as 20%. This move has raised concerns about its impact on global trade, with fears that it could drive up import prices and worsen inflation.
The market became more cautious as traders worried about escalating trade tensions, especially if the tariffs are higher than expected.
The White House has suggested that tariffs could be adjusted if trading partners open up more to US imports, but this hasn't eased concerns. If these tariffs are applied, US inflation may rise, which could keep the Federal Reserve focused on maintaining higher interest rates.
For the GBP/USD pair, this could lead to more volatility as higher tariffs could push the US dollar up as inflationary pressures mount, making the GBP/USD more sensitive to changes in US economic policies.
UK Economy Faces Pressures from Trump's Trade Policies and Cooling Wage Growth
On the other hand, the UK economy continues to face uncertainties, with concerns exacerbated by Trump’s trade policies.
The UK Office for Business Responsibility (OBR) warned that the potential repercussions of Trump's tariffs could undermine the government's fiscal buffer and shrink the UK economy by as much as 1%.
Moreover, the delay in finalizing an economic deal between the US and the UK has added to the uncertainty, with concerns that the terms of any trade agreement could change following the tariff announcement.
Despite this, cooling wage growth in the UK adds to the pressures on the British currency. Data from Incomes Data Research (IDR) revealed that the median pay increase for the three months to February slowed to 3.5%, the lowest in three years, down from the prior release of 4%.
This decrease in wage growth has fueled expectations that the Bank of England (BoE) may take a dovish stance in the near future, potentially further weighing on the GBP.
Therefore, the BoE's dovish outlook, combined with the risk of escalating trade tensions, has contributed to the cautious trading behavior of the Pound.
Investors are uncertain about the implications of Trump's tariff policy on global economic growth, which could ultimately affect the UK's economic performance and trade relations with the US.
US ADP Employment Data Expected to Boost Dollar and Pressure GBP/USD
In addition to geopolitical concerns, Wednesday’s market session will also be focused on the release of the ADP Employment Change data for March, which is expected to show that private employers added 105,000 jobs.
This would represent an increase from the 77,000 jobs added in February, highlighting continued resilience in the US labor market.
Therefore, the ADP Employment Change data, showing an increase in job growth, could strengthen the US dollar, putting downward pressure on GBP/USD as expectations for a more hawkish Fed rise.
GBP/USD – Technical Analysis
GBP/USD is consolidating just above the $1.2909 threshold, testing trendline support while trading slightly below the 50-SMA at $1.2932.
The pair’s structure is largely range-bound, with repeated attempts to break above $1.2972 meeting firm resistance.
Today’s price action remains cautious as traders await fresh macro catalysts. The RSI stands at 48.50, signaling indecision with a slight bearish divergence against recent higher lows in price.
A break and sustained move above the entry trigger at $1.2909 could initiate a recovery toward $1.2966, which marks the top of the recent range and immediate resistance.
The bullish case is supported by a confluence of support levels, including rising trendline support from the March lows and the psychological zone near $1.2874.
However, any failure to hold the $1.2874 level would likely expose $1.2843 and potentially $1.2813, reintroducing a bearish bias in the near term.
The technical bias remains neutral-to-bullish above $1.2909. A breakout above $1.2932 could lift the pair toward $1.2966, while a drop below $1.2874 would negate the setup.
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