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U.S. Dollar / Pound Sterling

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British PMIs fall, Trump says won't fire PowellThe British pound dropped as much as 0.7% earlier today and is under pressure. In the North American session, GBP/USD is trading at 1.3265, down 0.45% on the day. The pound has taken advantage of broad US dollar weakness recently, rising 3% in the month of April. On Tuesday, the pound climbed as high as 1.3423, its highest level since September 2024. UK PMIs reports softened in April, another reminder that that the UK economy is struggling. The Services PMI fell to 48.9 from 52.5 in March, below the market estimate of 51.3. There are growing fears that the UK will fall into recession and global economic uncertainty has led to decreased business activity. The Manufacturing PMI eased to 44.0, matching the market estimate but lower than the March reading of 44.9. This was the lowest reading since August 2023 as the deteriorating global market outook has reduced demand for UK exports. The increase in employer tax contributions has hurt employment and lowered confidence. The International Monetary Fund has lowered its 2025 global growth forecast to 2.8, down from 3.3% in January. The downgrade was in response to US tariffs and the IMF warned that an escalation of trade tensions between the US and other countries would create further market volatility and lead to even lower growth. US stock markets are sharply higher on Wednesday after President Trump said that he had no intention to fire Federal Reserve Chair Jerome Powell. Trump had intensified his attacks on Powell in recent days, resulting in sharp slides in US equity markets and the US dollar. Trump also said that China tariffs would drop "substantially" and investors hope this signals a de-escalation in the nasty trade war between the US and China.
by OANDA
GBPUSD: UK Data Back in FocusGBPUSD traded to an 8-month high on Tuesday at 1.3424, as a new wave of dollar selling swept across FX markets at the start of the week. This time driven by fresh uncertainty surrounding US economic growth and by a barrage of social media comments across the Easter Holiday period from President Trump that seemed to challenge the independence of the Federal Reserve. Now, as we look ahead to the remainder of the week, UK economic data is in focus, with the latest April Preliminary PMI Manufacturing and Services readings released at 0930 BST on Wednesday. These are potentially the first survey updates that will start to show the impact of US tariffs on UK economic growth, business sentiment and inflation, making them potentially important drivers for the future direction of GBPUSD. They could also shed some light on whether the Bank of England may be able to cut interest rates, as many traders hope, at their next interest rate meeting at the start of May. Then, on Friday, UK Retail Sales are released at 0700 BST. This release will be important in showing if UK consumers are still spending despite rising unemployment and stubbornly high prices. If they are, this may be taken as a positive for the UK economy and for GBPUSD, while any disappointment could lead to GBPUSD retesting lower levels again. Technical Update: September 2024 Highs a Key Resistance Focus So far during 2025, GBPUSD has seen a price recovery of nearly 11%, although as already discussed, this may be due more to broad based USD weakness, rather than outright GBP strength. Even so, latest upside has neared 1.3434, the September 2024 failure level, which may prove something of a line in the sand this week. Closing defense of 1.3434 may help determine where next directional risks lie. Much appears to depend on this week’s UK data and reaction to it, but traders may also be focusing on how the 1.3433 failure high is defended on a closing basis. Successful breaks may lead to a more sustained phase of price strength, but without such moves, risks could turn lower again. However, what are the levels we may need to monitor over coming sessions? Possible Resistance Levels: As we have established, traders after what has already been a strong recovery, may view the 1.3433 high as important, with closing breaks required to suggest risks to continue attempts to push to higher price levels. If closing breaks of 1.3433 do now materialise, it might be an indication of potential to challenge 1.3640, the February 2022 high, even towards 1.3748, equal to the January 10th 2022 rejection level. Possible Support Levels: With the 1.3433 price high remaining intact, Tuesday’s weakness from this area could now see focus shift back to support. If these give way, it might in turn point to possibilities of a deeper retracement of April strength. The first support may now prove to be 1.3313, equal to half the April 17th to April 22nd strength, with closing breaks perhaps suggesting further downside pressure. This could suggest possibilities towards 1.3148/1.3203, a combination of the April 7th low and 38.2% Fibonacci retracement of the April phase of price strength. The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted. The material provided here has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Whilst it is not subject to any prohibition on dealing ahead of the dissemination of investment research, we will not seek to take any advantage before providing it to our clients. Pepperstone doesn’t represent that the material provided here is accurate, current or complete, and therefore shouldn’t be relied upon as such. The information, whether from a third party or not, isn’t to be considered as a recommendation; or an offer to buy or sell; or the solicitation of an offer to buy or sell any security, financial product or instrument; or to participate in any particular trading strategy. It does not take into account readers’ financial situation or investment objectives. We advise any readers of this content to seek their own advice. Without the approval of Pepperstone, reproduction or redistribution of this information isn’t permitted.
by Pepperstone
GBP/USD upcoming shorts from 1.33600 back down to demandMy focus this week for GU is around a key daily supply zone that price is currently approaching. As we near this level, I expect price to slow down and begin distributing, potentially leading to a deeper retracement. I anticipate the short setup to form around Tuesday, depending on how price reacts. If price does retrace, I’ll be watching the 2-hour and 17-hour demand zones, where we could see a bullish reaction and a potential rally from those levels. Since GU has been overall bullish, this would be a counter-trend short, followed by a possible continuation to the upside. Confluences for GBP/USD Shorts: - Price is overbought, indicating a potential correction to clear liquidity and fill imbalances. - Plenty of downside liquidity and imbalances that price could target. - Approaching a strong daily supply zone, which could act as a key reversal point. - Unmitigated demand zones below, which may need to be tapped before price continues higher. P.S. If price doesn’t reach the daily supply zone, I’ll remain patient and look for a buy opportunity to ride price up toward that supply level. Wishing everyone a great trading week ahead!
Short
by Hassan_fx
GBPUSD | Short-Term Resistance Forming – Stay Sharp for ReactionGBPUSD has been showing strength lately due to the UK’s early acknowledgment of recession risks and a more transparent economic approach. However, in the short term, we are now approaching a resistance zone that traders should pay close attention to. 🟥 Resistance Zone (Short-Term) The current red zone overhead has historically acted as a supply area — we’ve seen hesitation and sell pressure emerge here before. If price approaches this area again, it’s important not to chase longs blindly. This level could lead to profit-taking or even a temporary reversal. 📌 What You Can Do: If you're short-biased, look for lower timeframe weakness in this zone (e.g., rejection candles, market structure shifts) before jumping in. If you're long-biased, wait to see if this resistance gets reclaimed with strength. Only then consider it a continuation signal — otherwise, it’s best to stay patient. Always pair your setups with proper confirmation. You already know I never insist on an idea when price action tells another story. Confirmation is key. Adaptability is your edge. Don’t fight the market — flow with it, and let the chart reveal your edge. 📌I keep my charts clean and simple because I believe clarity leads to better decisions. 📌My approach is built on years of experience and a solid track record. I don’t claim to know it all but I’m confident in my ability to spot high-probability setups. 📌If you would like to learn how to use the heatmap, cumulative volume delta and volume footprint techniques that I use below to determine very accurate demand regions, you can send me a private message. I help anyone who wants it completely free of charge. 🔑I have a long list of my proven technique below: 🎯 ZENUSDT.P: Patience & Profitability | %230 Reaction from the Sniper Entry 🐶 DOGEUSDT.P: Next Move 🎨 RENDERUSDT.P: Opportunity of the Month 💎 ETHUSDT.P: Where to Retrace 🟢 BNBUSDT.P: Potential Surge 📊 BTC Dominance: Reaction Zone 🌊 WAVESUSDT.P: Demand Zone Potential 🟣 UNIUSDT.P: Long-Term Trade 🔵 XRPUSDT.P: Entry Zones 🔗 LINKUSDT.P: Follow The River 📈 BTCUSDT.P: Two Key Demand Zones 🟩 POLUSDT: Bullish Momentum 🌟 PENDLEUSDT.P: Where Opportunity Meets Precision 🔥 BTCUSDT.P: Liquidation of Highly Leveraged Longs 🌊 SOLUSDT.P: SOL's Dip - Your Opportunity 🐸 1000PEPEUSDT.P: Prime Bounce Zone Unlocked 🚀 ETHUSDT.P: Set to Explode - Don't Miss This Game Changer 🤖 IQUSDT: Smart Plan ⚡️ PONDUSDT: A Trade Not Taken Is Better Than a Losing One 💼 STMXUSDT: 2 Buying Areas 🐢 TURBOUSDT: Buy Zones and Buyer Presence 🌍 ICPUSDT.P: Massive Upside Potential | Check the Trade Update For Seeing Results 🟠 IDEXUSDT: Spot Buy Area | %26 Profit if You Trade with MSB 📌 USUALUSDT: Buyers Are Active + %70 Profit in Total 🌟 FORTHUSDT: Sniper Entry +%26 Reaction 🐳 QKCUSDT: Sniper Entry +%57 Reaction 📊 BTC.D: Retest of Key Area Highly Likely 📊 XNOUSDT %80 Reaction with a Simple Blue Box! 📊 BELUSDT Amazing %120 Reaction! I stopped adding to the list because it's kinda tiring to add 5-10 charts in every move but you can check my profile and see that it goes on..
Short
by UmutTrades
GBPUSD Short 4/22/2025GBP/USD Short Setup – Multi-Timeframe Rejection at September High We're entering a short on GBP/USD based on a clean confluence of structure, pattern, and timing. Daily Chart: Price is rejecting a key resistance level from the week of September 20–27 — the high from that week has now been tapped five times in the last week, with today marking yet another rejection. Intraday Timing: Yesterday (Monday): London session tapped the September high. Today (Tuesday): Pre-London rally hit that same level and failed again. This sets the tone for a double-tap liquidity run that’s now looking exhausted. 4H Chart: Bearish rejection wick is forming (potential hammer) — still two hours left, but current structure suggests selling pressure off the highs. 1H Chart: We’ve printed a clean double top, and the most recent candle is closing as a bearish engulfing, rejecting straight off the key zone. Entry: 1.33932 Stop: 1.34303 Target 1 (conservative): 1:1.2 R:R — midline from Sunday’s Asia session. Target 2 (extension): 1.32986 — a clear structural level and liquidity pocket from previous demand. With momentum turning and buyers failing to break higher despite multiple attempts, this setup leans heavily bearish for the next few sessions
Short
by Big6Financial
GBPUSD 30M CHART PATTERNThis chart displays a GBP/USD 30-minute timeframe with a bullish harmonic pattern, possibly a Gartley or Bat pattern, forming a potential long (buy) trade setup. Here’s a quick breakdown: Green Arrows: Indicate the harmonic pattern completion and potential entry point for a buy. Red Arrow: Marks a previous resistance or pattern completion level. Blue Lines: Represent the projected price movement after pattern completion. Green Zone: Target area (Take Profit levels). Red Zone: Risk area (Stop Loss level). Two Take Profit Levels: First TP is at the
Long
by money_magnet2
GBP/USD: The Wizard's Descent from the Double Top MountainGBP/USD: The Wizard's Descent from the Double Top Mountain Technical Analysis: GBP/USD 4H chart shows a clear Double Top formation at approximately 1.3725, a critical resistance level The Treasure Hunter indicator has shifted color, signaling bearish momentum building (Hero taking damage) Our Wizard's Journey progress bar indicates we're at 50% completion of the Mountain Pass, suggesting we're at a prime reversal point Currently testing Elite Level 235 resistance zone (2345 XP), with declining XP Progress (35%) Forecast: Anticipating a significant pullback from current resistance Initial Minion Zone at 1.3200 provides first target level Watch for confirmation with HERO's Health declining from current 100% Trading Strategy: Short position opportunity forming with ELITE LvL 2 resistance rejecting price advance Stop loss placement above Double Top at 1.3750 Risk/reward favorable with multiple support levels to target Watch 4H candle closes below 1.3690 for entry confirmation Quest Status: Active - Prepare for the wizard's descent from the mountain peak!
Short
by CognitiveAlpha
GBPUSD 30M CHART PATTERNThis chart is for GBP/USD on a 30-minute timeframe and it appears to show a potential bearish reversal pattern, likely a head and shoulders or double top scenario. Here's a breakdown of the strategy shown: Resistance Zone (Top Green Box): Price has tested this area multiple times, creating a potential top. Support Zone (Bottom Green Box): Price has also bounced from here a few times, forming the base of a range. Stop Loss (Red Arrow): Placed just above the resistance, in case of a breakout upward. Take Profit (Blue Line): Set at or just below the support zone, expecting a downward move. Trade Bias: Bearish — the trader is anticipating a reversal from resistance and a move toward support. This setup assumes the price won't break above resistance, and will instead fall back down to the support zone — potentially forming a range trade or a continuation pattern if it breaks lower. Do you want help analyzing whether this is a solid setup based on current market sentiment or recent data?
Short
by money_magnet2