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Apr 07, 2025

GBP/USD chart on the hourly time frame

GBP/USD chart on the hourly time frame

  • Potential Bounce Zone: 1.2850 - 1.2820
  • Selling Pressure Area: 1.2920 - 1.2950
 If weak UK data continues and the USD remains firm, the pair could extend its pullback and test lower zones.
Reason: The pound is under pressure following disappointing UK economic indicators and investor caution ahead of key inflation data this week.
 
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.29139
1.29002
1.28912
1.28771
1.28630
1.28544
1.28403
EUR/USD chart on the hourly time frame

EUR/USD chart on the hourly time frame

  • Demand Zone: 1.0910 - 1.0880
  • Profit-Taking Zone: 1.0980 - 1.1000

 Mild upside potential if Eurozone data continues to stabilize, especially following the recent improvement in manufacturing sentiment.
Reason: The euro is supported by a relative improvement in Eurozone PMI figures and a slight pullback in USD strength.
Resistance 3 Resistance 2 Resistance 1 Pivot Point Support 1 Support 2 Support 3
1.09697
1.09604
1.09548
1.09449
1.09359
1.09303
1.09204
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