Weekly Analysis List
GBP/USD Weekly Analysis
4/21/25
Market Overview
As of April 21,2025, the British pound strengthened against the U.S. dollar due to strong UK wage growth and Fed rate cut speculation, reclaiming 1.3300.
Technical Outlook
• Current Price: ~1.3315 (+0.85% weekly change)
• Trends: Short-term bullish, medium-term neutral-to-bullish
• Support Levels:
• 1.3200 – Breakout point
• 1.3100 – Psychological level and 50-day MA
• 1.3000 – March low
• Resistance Levels:
• 1.3200– April high
• 1.3400 – September swing high
• 1.3600 – Key psychological barrier
• Indicators:
• RSI: ~63 (positive momentum, nearing overbought)
• MACD: Bullish crossover confirmed
• Moving Averages: Price above 50- and 200-day MAs
Fundamental Outlook
• UK Labor Market: Strong wage growth reduces BoE rate cut expectations.
• BoE Sentiment: Cautious despite cooling inflation; first rate cut potentially in Q3 2025.
• Fed Dovishness: Weak U.S. data boosts rate cut speculation, weakening USD.
• Global Risk Appetite: Limited USD safe-haven bids amid rising geopolitical risks support GBP.
Events to Watch This Week
• April 23: UK Manufacturing & Services PMIs
• April 25: U.S. GDP (Q1)
• April 26: U.S. Core PCE
• Ongoing: BoE speeches
Conclusion
Trading Outlook
• Bullish: Above 1.3200, aiming for 1.3400 and potentially 1.3600
• Bearish: Below 1.3100, targeting 1.3000 or 1.2900.
• Bias: Moderately Bullish, with price above 1.3500 and dovish Fed policy expectations.