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12.04.202217:17 Forex Analysis & Reviews: GBP/USD forecast on 12 April, 2022

Exchange Rates 12.04.2022 analysis

GBP/USD has gained traction and climbed to the 1.3050 area with the immediate reaction to the US inflation figures. The US Bureau of Labor Statistics reported on Tuesday that the Core Consumer Price Index (CPI) edged higher to 6.5% in March vs 6.6% expected.

GBP/USD fell below 1.3000 (psychological level) on Monday and last Friday but is yet to make a four-hour close below that level. In case that happens, 1.2980 (April 8 low) could act as interim support before sellers can target 1.2900 (psychologically level).

On the upside, the descending trend line coming from late March forms the first technical resistance at 1.3050 ahead of 1.3080 (50-period SMA) and 1.3100 (psychological level).

*这里的市场分析是为了增加您对市场的了解,而不是给出交易的指示。

Jan Novotny,
Analytical expert of InstaSpot
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