GBP/USD Weekly Forecast – April Week 2
Last week, GBP/USD reached an extreme supply zone near 1.3200, which was also a clean area of imbalance. The pair rejected hard from that level and closed with a strong bearish weekly candle.
On the daily chart, we saw a bearish engulfing pattern, confirming downside momentum. Although the daily close didn’t break below 1.2880, the technical setup remains valid — especially when aligned with the broader forecast for USD strength.
If price pulls back to 1.2970 (last Thursday’s low and a key resistance), this may offer a new entry for continuation toward the next major demand zone near 1.2700.
Bias: Bearish
Key Levels:
• Resistance: 1.2970 (former support turned resistance)
• Support: 1.2700 (target demand zone)
This setup aligns with the current macro environment and DXY strength outlook. Structure is still intact for further GBP weakness.
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Weekly forecast by Sphinx Trading
Drop your view in the comments.
#GBPUSD #Forex #Cable #ForexForecast #TechnicalAnalysis #SphinxWeekly #USD #PriceAction #SmartMoney
Last week, GBP/USD reached an extreme supply zone near 1.3200, which was also a clean area of imbalance. The pair rejected hard from that level and closed with a strong bearish weekly candle.
On the daily chart, we saw a bearish engulfing pattern, confirming downside momentum. Although the daily close didn’t break below 1.2880, the technical setup remains valid — especially when aligned with the broader forecast for USD strength.
If price pulls back to 1.2970 (last Thursday’s low and a key resistance), this may offer a new entry for continuation toward the next major demand zone near 1.2700.
Bias: Bearish
Key Levels:
• Resistance: 1.2970 (former support turned resistance)
• Support: 1.2700 (target demand zone)
This setup aligns with the current macro environment and DXY strength outlook. Structure is still intact for further GBP weakness.
—
Weekly forecast by Sphinx Trading
Drop your view in the comments.
#GBPUSD #Forex #Cable #ForexForecast #TechnicalAnalysis #SphinxWeekly #USD #PriceAction #SmartMoney
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.