GBPUSD Technical Outlook


The GBP/USD pair broke the Asian side-trend to the upside in the early European trading, as the bulls cheer the risk-on market profile and subdued trading activity seen around the US dollar heading into a data-light session. What more is discussed in this 9 April GBPUSD Technical Outlook?

9 April, OctaFX –  The British pound has recovered upside momentum against the greenback, after a weaker than expected March U.S jobs report and Trade War concerns pushed the U.S dollar index lower.

The GBPUSD pair has bounced back towards the 1.4100 handle, after finding strong technical support from the 1.3965 level last week. Sterling traders now look towards the U.S dollar index’s next directional move around the pivotal 90.00 level, and equity markets reaction towards the ongoing trade dispute between the U.S and China.

9 April GBPUSD Technical Outlook

  • The GBPUSD pair is intraday bullish while trading above the 1.4068 level, key intraday resistance is currently found at the 1.4100 and 1.4146 levels.

  • Should price-action on the GBPUSD pair move below the 1.4068 level, the main intraday support is found at the 1.4030 and 1.3965 levels.

Disclaimer

This article about 9 April GBPUSD Technical Outlook was provided by OctaFX. It should substitute for professional marketing consulting. Forex margin trading involves substantial risks. Forex margin trading exposes participants to risks including, but not limited to, changes in political conditions, economic factors, and other factors. All of which may substantially affect the price or availability of one or more foreign currencies.

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