NZD/USD Extends Rally to Fresh 2025 Highs as Recession Jitters Weigh on Dollar

Economic

Summary:

The New Zealand dollar continued its upward trajectory for the fifth straight session on Tuesday, breaching key technical resistance levels and setting a new year-to-date high near 0.5930.

BUY NZDUSD

Close Time

CLOSED

0.59303

Entry Price

0.61000

0.57900

0.59574 -0.00389 -0.65%

84.1

Pips

Profit

0.57900

0.60144

Exit Price

0.59303

Entry Price

0.61000

The NZD/USD pair built significantly on its bullish breakout above the 200-day Simple Moving Average, extending its rally into a fifth consecutive trading day on Tuesday and reaching the 0.5925–0.5930 zone in early Asian trading. This latest surge marks the highest point for the currency pair in 2025, driven primarily by a rapidly deteriorating outlook for the U.S. dollar, which continues to languish under the weight of recession fears, dovish Fed expectations, and negative risk dynamics.

The backdrop for the dollar has turned increasingly hostile in recent days. At the center of the storm is the renewed escalation of the U.S.-China trade war, which took a sharper turn after President Donald Trump imposed punitive tariffs on Chinese goods, hiking duties to a record 145%. In response, Beijing retaliated by raising its own tariffs to as high as 125%, targeting several key American exports. With the U.S. still dependent on critical raw materials and industrial components sourced from China, the retaliatory measures have reignited concerns over potential supply chain disruptions and a looming slowdown in domestic manufacturing.

This re-emerging trade war has done more than merely rattle investor nerves—it has also reinforced the perception that the U.S. economy may be heading into a turbulent phase, prompting widespread speculation that the Federal Reserve could be forced to respond with aggressive monetary easing. The futures market is currently pricing in up to 90 basis points of rate cuts in 2025, a dramatic shift that reflects just how quickly sentiment around the U.S. growth trajectory has soured.

While the Fed has remained relatively cautious in its official communications, the upcoming speech by Chair Jerome Powell on Wednesday is now seen as a critical event that could determine whether policymakers are prepared to acknowledge growing downside risks. Investors will be closely watching for any signals that suggest the central bank is leaning toward preemptive easing, especially if trade tensions persist and economic indicators continue to weaken.

In this context, the Kiwi dollar has become an unlikely beneficiary of the market's search for yield and risk-adjusted returns. Traditionally seen as a pro-cyclical currency, the New Zealand dollar often performs well when global risk sentiment improves. That dynamic is clearly in play now, as investors appear more willing to rotate out of defensive assets and into currencies tied to commodity exports and higher real yields. Trump's temporary reprieve on certain tariffs, though short-lived, has also contributed to a mild rebound in investor optimism, supporting the Kiwi’s upward march.

Technical Analysis

Technical factors have played an equally important role in reinforcing the bullish bias. Last week’s breakout above the 200-day SMA was a significant development, as this level had previously acted as a ceiling for price action over the past several months. The decisive move through this resistance point sparked renewed buying interest, validating a potential shift in market structure. Tuesday's price action confirmed that buyers remain firmly in control, pushing the pair toward the next area of resistance near 0.5955.

From a chart perspective, NZD/USD appears to have completed a multi-week consolidation phase and is now embarking on what could be a medium-term bullish reversal. The recent daily candles have shown strong momentum with healthy follow-through, and both the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD) indicators continue to favor the bulls without yet flashing overbought signals. Price remains comfortably supported above the former swing low at 0.5823, with additional support layered below at 0.5760 and 0.5700. As long as the pair remains above these levels, the short-term bias is expected to remain constructive.

Looking ahead, the next key test for the Kiwi lies in its ability to close decisively above 0.5900, which not only represents a major psychological level but also consolidates the recent breakout above the 200-day average. A clean break here could open the door for an extension toward the 0.5955 level, last seen earlier in the year, and potentially even toward the symbolic 0.6100 threshold—a zone that may define the upper bound of this emerging rally. Failure to sustain above 0.5900, however, may prompt some consolidation, particularly if upcoming U.S. economic data surprises to the upside.

TRADE RECOMMENDATION

BUY NZDUSD

ENTRY PRICE: 0.5930

STOP LOSS: 0.5790

TAKE PROFIT: 0.6100

Risk Warnings and Disclaimers

You understand and acknowledge that there is a high degree of risk involved in trading. Following any strategies or investment methods may lead to potential losses. The content on the site is provided by our contributors and analysts for information purposes only. You are solely responsible for determining whether any trading assets, securities, strategy, or any other product is suitable for investing based on your own investment objectives and financial situation.

Add to Favorites

Warren Takunda

Economic

Summary:

The British Pound surged to a six-month high, supported by robust UK employment data and a weakening US Dollar, which continues to struggle under the weight of trade policy uncertainty and dovish signals from the Federal Reserve.

BUY GBPUSD

Close Time

CLOSED

1.32500

Entry Price

1.34000

1.31000

1.33073 -0.00250 -0.19%

150.0

Pips

Profit

1.31000

1.34002

Exit Price

1.32500

Entry Price

1.34000

The Pound Sterling extended its upward trajectory on Tuesday, soaring to its highest level in six months against the US Dollar as investors reacted to a potent mix of resilient UK employment figures and growing unease about the structural appeal of the Greenback. The GBP/USD pair climbed to an intraday high of approximately 1.3235 during the European session, solidifying its bullish stance as traders weighed contrasting narratives on both sides of the Atlantic.

The catalyst for Sterling's latest rally came from encouraging UK labor market data for the three months ending in February, which painted a picture of underlying strength in an otherwise subdued economic landscape. Employment levels rose more than expected, signaling that despite persistent inflation and a cautious consumer environment, businesses continued hiring at a steady pace. The data added weight to the notion that the Bank of England might hold interest rates higher for longer, particularly if the momentum in employment begins to translate into wage pressures and broader inflationary persistence.

With the next Consumer Price Index (CPI) data for March scheduled for release on Wednesday, market participants are increasingly focused on inflation's trajectory and how it might influence the Bank of England’s future policy decisions. A stronger-than-anticipated inflation print could further fuel expectations of a delayed pivot toward monetary easing, thereby providing additional support to the Pound.

Across the Atlantic, the US Dollar has found itself under sustained pressure, undermined by a combination of policy inconsistency and a shift in tone from Federal Reserve officials. The US Dollar Index (DXY), a measure of the Greenback’s performance against a basket of six major currencies, is treading water just above the three-year low at 99.00. This prolonged softness reflects waning investor confidence in the US Dollar’s safe-haven status, a decline largely attributed to the erratic nature of trade policy decisions coming from Washington.

In the latest twist to the ongoing trade saga, President Donald Trump suggested on Monday that his administration is considering a temporary suspension of tariffs on imported automobiles and related parts. Speaking to reporters, Trump acknowledged that US-based car manufacturers require additional time to shift their supply chains domestically, particularly after years of reliance on Canadian, Mexican, and Asian components. “They’re switching to parts that were made in Canada, Mexico and other places, and they need a little bit of time, because they’re going to make them here,” Trump said, as reported by Bloomberg. The potential pause follows an earlier announcement of a 90-day moratorium on reciprocal tariffs — a move that exempted all trading partners except China — further underscoring the administration's reactive rather than strategic approach to trade.

These frequent reversals have significantly eroded confidence in the long-term credibility of US trade policy, leading to a broader reassessment of the Dollar’s role as a global safe haven. Investors now face the challenge of interpreting policy intentions that appear increasingly improvised, making it difficult to forecast long-term trends.

Exacerbating the Dollar’s vulnerability, the Federal Reserve appears to be slowly tilting toward a more dovish posture. On Monday, Federal Reserve Governor Christopher Waller introduced a cautious but significant note, suggesting that in the event of a recession, the Fed would prioritize growth over inflation containment. Waller indicated that even if inflation remained elevated, the central bank would consider rate cuts should economic risks intensify. “I expect the risk of recession would outweigh the risk of escalating inflation, especially if the effects of tariffs in raising inflation are expected to be short-lived,” he noted.

Such comments have given markets fresh reason to believe that the Fed could pivot sooner than previously expected, particularly if economic data begins to weaken or if the uncertainty surrounding trade begins to seep into business investment and consumer confidence. The juxtaposition of a potentially dovish Fed and a Bank of England still grappling with inflation creates an environment highly favorable to the Pound, at least in the short term.

Technical Analysis

From a technical perspective, the GBP/USD pair has been carving out an orderly ascent within a well-defined uptrending channel. Recent price action confirms the bullish structure, with the pair successfully retesting prior support levels before resuming its climb. The area around 1.3200 had acted as a notable resistance level in past weeks, and the pair’s ability to break above this barrier signals strong bullish momentum.

Should the rally extend further, the next psychological threshold lies near the 1.3400 mark, which would represent a significant technical and symbolic milestone for Sterling bulls. Momentum indicators such as the RSI remain supportive, indicating that the rally still has legs in the absence of a strong Dollar recovery or an unexpected UK inflation miss.

TRADE RECOMMENDATION

BUY GBPUSD

ENTRY PRICE: 1.3240

STOP LOSS: 1.3100

TAKE PROFIT: 1.3400

Risk Warnings and Disclaimers

Add to Favorites

Warren Takunda

Economic

Summary:

The British pound extends its advance against the Japanese yen, nearing 189.00 following unexpectedly strong UK labor market data.

BUY GBPJPY

Close Time

CLOSED

189.300

Entry Price

193.000

186.500

191.102 +0.960 +0.50%

78.2

Pips

Profit

186.500

190.082

Exit Price

189.300

Entry Price

193.000

The British pound rallied against the Japanese yen during Tuesday’s European session, with the GBP/JPY pair climbing toward the psychologically significant 189.00 handle. The upward move was fueled by a surprisingly robust batch of UK employment data for the three months ending in February, which reignited optimism around the country’s economic resilience despite lingering structural headwinds and a fragile global economic backdrop.

According to the Office for National Statistics (ONS), UK employers added 206,000 jobs in the three-month period to February, a notable acceleration compared to the 144,000 gain recorded during the previous quarter. This unexpected surge in job creation, coupled with a steady unemployment rate of 4.4%, suggests that Britain’s labor market remains more resilient than many had anticipated—especially amid elevated borrowing costs and stagnant productivity growth.

Wage growth remained relatively firm as well. Average earnings excluding bonuses—a key indicator of underlying wage inflation—rose by 5.9% year-on-year. Although this figure fell short of the market’s 6.0% consensus forecast, it marked an uptick from the previous reading of 5.8%, indicating that wage pressures are proving stickier than many central bankers might prefer. For the Bank of England (BoE), this presents a dilemma. On one hand, robust job and wage growth ostensibly justify holding off on monetary easing. On the other, wage inflation appears to be gradually decelerating, suggesting that inflationary momentum is softening.

Financial markets are now grappling with whether the BoE will pivot to rate cuts later this year or maintain its cautious stance. While today’s labor market numbers theoretically delay any urgency for policy loosening, forward-looking concerns about the UK economy’s structural health continue to cast a long shadow. Of particular note is the recent hike in employer National Insurance contributions, which came into effect this month following the policy announcement by Chancellor of the Exchequer Rachel Reeves in her Autumn Budget. The increase—from 13.8% to 15%—effectively raises the cost of hiring, especially for businesses in labor-intensive sectors. Analysts warn that this could dampen future job growth, undermining what currently appears to be a relatively strong labor market.

Beyond domestic issues, GBP/JPY remains sensitive to geopolitical risks and cross-border economic frictions, particularly those emanating from Asia. In a concerning development for global markets, the trade relationship between the United States and China continues to deteriorate. The reintensification of tariff threats between the world’s two largest economies is reviving fears of supply chain disruption and reduced global trade flows. For investors, this carries real implications. If the US-China tariff war escalates further, risk appetite could quickly sour, leading to increased demand for safe-haven currencies such as the Japanese yen—even if fundamentals do not fully support such a move.

Japan, too, is navigating its own trade challenges. Japanese Economic Minister Ryosei Akazawa is preparing to travel to Washington for key trade discussions aimed at reducing American-imposed tariffs on Japanese exports. In comments made prior to his departure, Akazawa stated unequivocally that Japan’s goal is the “complete removal” of additional US tariffs. He emphasized that the lingering Trump-era trade barriers are “eating away at Japanese firms’ profits day by day,” underscoring the urgency of securing concessions. While the outcome of these talks remains uncertain, any breakthrough could support the yen in the near term, particularly if markets perceive reduced trade-related risk.

Technical Analysis

GBP/JPY’s technical posture is signaling further upside potential. The one-hour chart reveals an inverse head-and-shoulders formation, which traditionally serves as a bullish reversal pattern. The pattern’s neckline was recently breached near 189.20, and the breakout was accompanied by a clean bullish candle and rising volume—both of which enhance the credibility of the move. The right shoulder of the formation also aligned neatly with an ascending trendline support, adding further technical confluence. In addition, the pair has managed to stay above its 200-period exponential moving average on the hourly timeframe, another indication that momentum may favor bulls in the short term.

The Relative Strength Index (RSI) on the same timeframe has started to climb, suggesting that bullish momentum is beginning to build. If the pattern continues to unfold as expected, the projected upside target sits near 193.00 a level that aligns with both the upper boundary of the current ascending price channel and previous structural resistance.

TRADE RECOMMENDATION

BUY GBPJPY

ENTRY PRICE: 189.30

STOP LOSS: 186.50

TAKE PROFIT: 193.00

Risk Warnings and Disclaimers

Add to Favorites

Alan

Forex

Summary:

Despite the increasing market expectations for a pause in the Bank of Canada's rate-cutting cycle, the lingering uncertainty surrounding tariffs continues to cap the upside potential of the Canadian dollar.

BUY USDCAD

Close Time

CLOSED

1.38555

Entry Price

1.41400

1.37900

1.38493 -0.00044 -0.03%

65.5

Pips

Loss

1.37900

Exit Price

1.38555

Entry Price

1.41400

Fundamentals

Later today, Canada is set to release its March CPI data. Currently, the YoY CPI for March is expected to remain at 2.6%, unchanged from February. However, core goods prices continue to rise due to the pass-through effects of Trump's tariffs. Despite the Bank of Canada's 25-basis-point rate cut in March to 2.75% in response to tariff pressures, market expectations for a pause in rate cuts have risen to 58% ahead of the latest rate decision.

Nevertheless, 75% of Canada's exports are dependent on the US market. Trump's retention of a 25% tariff on Canadian steel, aluminum, and automobiles, combined with a sharp increase of 32,600 in unemployment in February, has forced the Bank of Canada (BOC) to delicately balance between fighting inflation and stabilizing growth. If today's CPI data exceeds expectations, the likelihood of a pause in rate cuts may be further reinforced. However, the uncertainty surrounding tariffs will continue to limit the upside potential of the Canadian dollar.

Additionally, WTI crude oil prices continue to face pressure, trading around $62 per barrel. The expectation of increased production from OPEC+ and the unexpected rise in US crude oil inventories have capped the upside for oil prices. As a commodity currency, the Canadian dollar's performance is highly correlated with oil prices. The weakness in oil prices further undermines support for the Canadian dollar.

Technical Analysis

On the weekly chart, USDCAD has experienced a sustained decline recently, primarily driven by the persistent weakness in the US dollar. The exchange rate has now fallen to the vicinity of 1.3860, which coincides with the upper boundary of the previous consolidation range. This level also aligns with the 60-week moving average (MA60). The confluence of support from the consolidation range and the moving average has created a robust support resonance. Furthermore, the formation of a bullish candlestick on the daily chart yesterday has reinforced the strength of this support level. Consequently, the exchange rate is poised to stabilize and arrest its downward momentum.

Examining the moving average system, the K-line of USDCAD remains above both the MA60 and the 144-week moving average (MA144). This indicates that despite the recent sharp sell-off, the overall upward trend of the asset remains intact.

Currently, if USDCAD stabilizes near the 1.3860 support level, the exchange rate is likely to resume its upward trajectory and test the resistance level at 1.4800. Conversely, if it breaches this level, it may proceed to test the support at 1.3600.

Trading Recommendations

Trading Direction: Buy

Entry Price: 1.3860

Target Price: 1.4140

Stop Loss: 1.3790

Valid Until: April 29, 2025, 23:00:00

Support: 1.3828/1.3600

Resistance: 1.4027/1.4158

Risk Warnings and Disclaimers

Add to Favorites

Manuel

Central Bank

Economic

Summary:

The RSI entered oversold territory, indicating that sellers may be exhausting their strength and that a bullish counter-move could be forming from this zone.

BUY USDCAD

Close Time

CLOSED

1.38720

Entry Price

1.41500

1.37250

1.38493 -0.00044 -0.03%

77.2

Pips

Profit

1.37250

1.39492

Exit Price

1.38720

Entry Price

1.41500

U.S. Treasury Secretary Scott Bessent reassured markets on Monday, stating that the United States remains far from any kind of emergency scenario—something, he noted, that was never a real concern to begin with. He also emphasized the administration’s commitment to pursuing “fair” trade negotiations with countries seeking tariff exemptions, which the Trump administration has framed as essential measures to restore fiscal balance in the U.S. budget.

Meanwhile, Atlanta Federal Reserve President Raphael Bostic remarked on Tuesday that the Fed still has considerable ground to cover before reaching its 2% inflation target. His comments served as a reality check for investors who had begun to price in rate cuts more aggressively. Persistent inflation, in his view, continues to complicate the timing and extent of any future policy easing.

St. Louis Fed President Alberto Musalem echoed the cautious tone, warning that inflation could reaccelerate even as labor market conditions show signs of deterioration. This potential decoupling between inflation and employment, he argued, demands careful observation and a data-dependent approach. Musalem also underscored the importance of keeping long-term inflation expectations anchored, especially amid lingering uncertainty over tariffs and structural policy shifts.

“There remains substantial uncertainty regarding the timing and cumulative impact of shifting trade, immigration, fiscal, and regulatory policies,” Musalem said during a speech in Hot Springs, Arkansas. “We must acknowledge the possibility that inflation could rise even as the labor market weakens.”

Boston Fed President Susan Collins shared similar concerns, noting that growing policy unpredictability—particularly surrounding tariffs—is limiting the central bank’s ability to act nimbly. Minneapolis Fed President Neel Kashkari added that prolonged trade restrictions not only risk unanchoring inflation expectations but could also suppress long-term growth. In a recent Fed publication, he emphasized how the evolving policy landscape has added complexity and unpredictability to the monetary outlook.

New York Fed President John Williams further contributed to the chorus of concern, stating that he expects broader U.S. economic indicators to continue softening as the cumulative effects of tariffs work their way through the system.

On the data front, the latest U.S. Producer Price Index (PPI) report delivered a notable downside surprise. Headline PPI declined by 0.4% in March—well below expectations for a 0.2% increase—following a modest upward revision to February’s reading, now reported at 0.1%. Core PPI, which excludes the often-volatile food and energy components, also dropped by 0.1%, defying consensus forecasts for a 0.3% gain.

Several subcomponents of the report—those feeding directly into the Fed’s preferred inflation metrics—came in softer than expected. These figures have raised fresh doubts about the durability of price pressures and introduced further complications for the Fed’s path forward. Bulls Could Take Control If Downside Momentum Fades_1

Bulls Could Take Control If Downside Momentum Fades_1

Technical Analysis

USDCAD has experienced a sharp drop in recent sessions, reaching key support around the 1.3900 zone, with an intraday low of 1.3833. From this level, the pair has started to rebound modestly, suggesting that bearish momentum may be losing steam. Notably, the RSI entered oversold territory, indicating that sellers may be exhausting their strength and that a bullish counter-move could be forming from this zone.

Interestingly, this support area has acted as resistance in two prior instances, and it now appears to be providing a floor—hinting at a possible shift in market sentiment. If this zone continues to hold, buyers may begin stepping in to drive a recovery.

The 100- and 200-period moving averages are currently located at 1.3997 and 1.4291, respectively. Immediate support and resistance levels are found at 1.3750 and 1.4155. A firm break below 1.3750 could trigger a continuation of the downtrend, potentially leading to deeper losses. However, if the 1.3822 support zone is defended successfully, the pair may gain bullish traction toward the 1.4155 resistance level.

Trading Recommendations

Trading direction: Buy

Entry price: 1.3872

Target price: 1.4150

Stop loss: 1.3725

Validity: Apr 23, 2025 15:00:00

Risk Warnings and Disclaimers

Add to Favorites

Eva Chen

Economic

Forex

Summary:

A series of factors may introduce certain fluctuations to the Eurozone economy, including internal policy adjustments within Europe, global geopolitical risks, and changes in trade relations. As a result, these factors can indirectly affect the trend of the euro against other currencies. The Bank of New Zealand (BNZ) Services Performance Index has risen to 49.1. Despite signs of stabilization, it remains weak.

SELL EURNZD

EXP

PENDING

1.96400

Entry Price

1.87890

1.99300

1.90423 +0.00519 +0.27%

Pips

PENDING

1.87890

Exit Price

1.96400

Entry Price

1.99300

Fundamentals

Recent data from the Eurozone economy have shown a gradual improvement, but core issues such as low inflation and a slowdown in growth remain significant challenges. The European Central Bank (ECB) continues to face the delicate task of balancing its accommodative monetary policy with the gradual withdrawal of stimulus measures. Amid this backdrop, the overall economic outlook for the Eurozone remains shrouded in uncertainty. However, there is potential for a stronger euro if economic data show unexpected improvements or if there are signs of rising inflation. Such developments could bolster the euro's value and, consequently, drive EURNZD higher.

New Zealand's services sector continued to contract in March. The BusinessNZ Services Performance Index edged up from 49.0 to 49.1. This marks another instance where the index fell below its long-term average of 53.0, highlighting its persistent weakness.

While the overall improvement was modest, the underlying sub-indexes showed a mixed picture—The Activity/Sales Index declined from 49.1 to 47.4. However, the New Orders/Business Index climbed from 49.5 to 50.8, reaching its highest level since February 2024, indicating a recovery in future demand. The Employment Index rose from 49.1 to 50.2, ending a 15-month contraction and preliminarily signaling that businesses may be regaining hiring confidence.

The proportion of respondents with negative evaluations decreased slightly to 56.7%. Their concerns over high interest rates, inflation, weak consumer confidence, and broader economic uncertainty persist. Businesses also mentioned external pressures such as global tariffs and rising input costs.

Head and Shoulders Pattern Drives Continued Bearish Trend_1

Technical Analysis

The current EURNZD is trading at 1.9376, a level influenced by both economic fundamentals and technical indicators.

Fundamentally, the respective economic conditions and monetary policy directions of Europe and New Zealand will determine the medium- to long-term trend. Technically, the visible 4-hour head and shoulders pattern provides a bearish reference.

When formulating trading strategies, traders are advised to operate flexibly based on bullish and bearish scenarios while maintaining prudent risk management. Additionally, it is crucial to closely monitor the latest developments in international economic and policy trends.

Trading Recommendations

Trading Direction: Sell

Entry Price: 1.9640

Target Price: 1.8789

Stop Loss: 1.9930

Valid Until: April 29, 2025, 23:55:00

Support: 1.9285/1.9234/1.9619

Resistance: 1.9761/1.9847/1.9916

Risk Warnings and Disclaimers

Add to Favorites

Eva Chen

Economic

Forex

Summary:

The cross pair indicates that the British pound is making a strong comeback. This week, the market is closely watching the UK Consumer Price Index and wage growth data.

BUY GBPUSD

EXP

TRADING

1.31332

Entry Price

1.35050

1.27000

1.33073 -0.00250 -0.19%

0.0

Pips

Flat

1.27000

Exit Price

1.31332

Entry Price

1.35050

Fundamentals

Last week, the volatility of GBPUSD was lower than that of its major competitor, the euro. Apart from concerns over risk aversion and the impact of tariffs on the UK economy, the rise in UK government bond yields also put pressure on the pound, as it makes it more difficult for the Starmer government to implement loose fiscal policies to counter economic slowdown.

Meanwhile, considering that US tariffs should have a more severe impact on the Eurozone economy than on the UK, the recent plummet in GBPUSD is somewhat puzzling. The euro has been playing the role of a safe haven, but the appreciation of EURGBP seems somewhat forced. Given the UK's lower trade deficit with the US and lower dependence on goods exports, the UK appears to be better positioned to withstand tariffs.

We believe that the recent underperformance of GBPEUR is unlikely to persist for long. This largely reflects the high-risk status of the pound, but the UK economy seems to be prepared to weather US tariffs.

The main pressure facing the pound now is the market expectation that the Bank of England will need to cut interest rates more significantly this year. There is already a 90% probability of a 25-basis-point rate cut at the May meeting.

However, if the upcoming employment and Consumer Price Index (CPI) data exacerbate concerns over persistent inflation, these expectations could change this week.

The CPI fell more than expected YoY in February, to 2.8%. It may drop further in March before rebounding again. The CPI report will be released on Wednesday, and ahead of that, the latest employment data will be published on Tuesday. Wage growth will be key for the Bank of England's decision-making. Stronger-than-expected data could dampen rate cut expectations, thereby potentially providing support to the pound.

Path of Least Resistance Points Upward_1

Technical Analysis

GBPUSD maintains its bullish momentum, breaking above 1.3200 during the European session on Monday. The ongoing weakness of the US dollar indicates that the path of least resistance for this asset is upward.

The immediate resistance for bulls is at 1.3206. If this resistance level is breached, GBPUSD will resume its rally from 1.2099 and retest the high of 1.3433.

On the downside, a break below the support level of 1.2981 would first restore a neutral intraday trend. However, as long as the support level of 1.2706 holds, the overall short-term outlook will remain bullish.

Trading Recommendations

Trading Direction: Buy

Entry Price: 1.3120

Target Price: 1.3505

Stop Loss: 1.2700

Valid Until: April 29, 2025, 23:55:00

Support: 1.2981/1.2866/1.2711

Resistance: 1.3206/1.3887/1.3433

Risk Warnings and Disclaimers

Add to Favorites

China–U.S. Trade War

Daily News

Remarks of Officials

Central Bank

FastBull Events

FastBull Featured

Devin

Mohammad Omar

Recent Searches

Top Searches

Markets

News

Analysis

User

24/7

Economic Calendar

Education

Data

NZD/USD Extends Rally to Fresh 2025 Highs as Recession Jitters Weigh on Dollar

GBP/USD Surges on UK Labor Market Strength, Dollar Slides Amid Tariff Turbulence

BoE Rate Cut Bets Weaken as UK Labor Market Holds Firm; GBP/JPY Eyes 193

Short-term Plunge Fails to Alter Long-term Bullish Trend

Fundamentals

Technical Analysis

Trading Recommendations

Bulls Could Take Control If Downside Momentum Fades

Technical Analysis

Head and Shoulders Pattern Drives Continued Bearish Trend

Fundamentals

Technical Analysis

Trading Recommendations

Path of Least Resistance Points Upward

Fundamentals

Technical Analysis

Trading Recommendations

Risk Disclosure