📌 GBP Bounces on Strong Retail Sales, But USD Strength Keeps Pressure On 💷📉
The British Pound (GBP) rebounded on Friday after UK Retail Sales data surprised to the upside. According to the Office for National Statistics (ONS), retail sales rose by 0.4% in March, beating expectations of a -0.4% decline. On a yearly basis, growth accelerated to 2.6%, outpacing the forecast of 1.8%.
However, despite the positive data, traders remain confident the Bank of England (BoE) may still cut interest rates by 25 bps to 4.25% in the May meeting, due to persistent global uncertainties and softer inflation expectations.
Meanwhile, the US Dollar (USD) gained ground across the board as trade tensions between the US and China appeared to ease. Durable Goods Orders in the US jumped by 9.2% in March — a clear sign of business confidence and policy impact.
📊 Technical Outlook – GBP/USD
GBP/USD briefly recovered from an intraday low of 1.3280 but remains under pressure near key resistance.
On the upside, the psychological barrier at 1.3500 remains a major hurdle.
To the downside, the April 3rd high around 1.3200 now acts as strong support.
💼 Trading Plan
🟢 BUY ZONE:
Entry: 1.32500
SL: 1.32000
TP: 1.33300
🔴 SELL ZONE:
Entry: 1.34180
SL: 1.34700
TP: 1.33500
📌 Stay alert ahead of key BoE guidance and further US-China headlines — volatility may increase as we head into May.
The British Pound (GBP) rebounded on Friday after UK Retail Sales data surprised to the upside. According to the Office for National Statistics (ONS), retail sales rose by 0.4% in March, beating expectations of a -0.4% decline. On a yearly basis, growth accelerated to 2.6%, outpacing the forecast of 1.8%.
However, despite the positive data, traders remain confident the Bank of England (BoE) may still cut interest rates by 25 bps to 4.25% in the May meeting, due to persistent global uncertainties and softer inflation expectations.
Meanwhile, the US Dollar (USD) gained ground across the board as trade tensions between the US and China appeared to ease. Durable Goods Orders in the US jumped by 9.2% in March — a clear sign of business confidence and policy impact.
📊 Technical Outlook – GBP/USD
GBP/USD briefly recovered from an intraday low of 1.3280 but remains under pressure near key resistance.
On the upside, the psychological barrier at 1.3500 remains a major hurdle.
To the downside, the April 3rd high around 1.3200 now acts as strong support.
💼 Trading Plan
🟢 BUY ZONE:
Entry: 1.32500
SL: 1.32000
TP: 1.33300
🔴 SELL ZONE:
Entry: 1.34180
SL: 1.34700
TP: 1.33500
📌 Stay alert ahead of key BoE guidance and further US-China headlines — volatility may increase as we head into May.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 7 to 15 Signals Vip
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 7 to 15 Signals Vip
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.
⚜️ Trade with Money Market Flow, logic, Price action 📉📈
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 7 to 15 Signals Vip
⚜️Risk Reward 1.3 to 2.5...
⚜️Daily 7 to 15 Signals Vip
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.