The British Pound continues its slow but steady decline, down against its American rival to a fresh 3-month low of 1.5263, where it stands.
The bearish trend remains firm in place, as the 4 hours chart shows that the price extended further below its 20 SMA, whilst the Momentum indicator heads lower below the 100 level. In the same chart, the RSI heads slightly lower around 28 all of which supports additional declines. The pair has a strong static support in the 1.5250 region, and some buying interest may surge on a first attempt to break below it. Nevertheless, sellers are waiting on spikes with 1.5340 as the probable level to watch then.
A break below 1.5250 on the other hand should see stops getting triggered and the decline extending towards the 1.5200 level.
View the live chart of the GBP/USD
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.