empty
04.04.2025 09:38 AM
EUR/USD and GBP/USD April 4 – Technical Analysis

EUR/USD

This image is no longer relevant

After several attempts and three weeks of consolidation, the bulls finally launched a breakout, allowing them to close yesterday well above the resistance levels of the Ichimoku Cloud on the monthly (1.0943) and weekly (1.0978) timeframes. Today marks the weekly close, and the bulls need to hold on to these gains. If the upward move continues, the pair may test the previous highs (1.1214 – 1.1276). If the gains are lost, the levels that have been breached may now act as support. Potential downside targets include the zones around 1.0978 – 1.0943 and 1.0856 – 1.0828.

This image is no longer relevant

Yesterday's momentum significantly expanded the boundaries of the classic Pivot levels. The resistance levels are at 1.1197 – 1.1342 – 1.1538 for further upward movement. Should the bears opt for a corrective pullback, they will encounter key levels at 1.1001 (daily central Pivot level) and 1.0865 (weekly long-term trend). A break below and reversal of the trend would allow the bears to shift the current balance of power in their favor. Further development of bearish sentiment would lead the pair toward the support levels of the classic Pivot points (1.0856 – 1.0660 – 1.0515).

***

GBP/USD

This image is no longer relevant

Out of the three weeks of uncertainty, the bulls were the first to break out. They pushed past the final daily target level (1.3047) without a retest. As the week draws to a close, holding on to the gains is crucial. If the upward movement continues, the bulls will aim for the previous high (1.3433). A breakout above that level would signal the end of the current monthly correction. If the bulls fail, their opponents could reclaim the advantage by breaking below the daily short-term trend support (1.3036) and quickly return the pair to the previous consolidation zone, centered around the upper boundary of the weekly Ichimoku cloud (1.2957).

This image is no longer relevant

On the lower timeframes, the market is currently hovering around the central Pivot level (1.3091). Continuing the corrective pullback could lead the pair to test the weekly long-term trend level (1.2979), which currently reflects the existing balance of power. A break below this level would shift the main advantage to the bears. Further strengthening of bearish momentum could bring the pair down to the classic Pivot support levels at 1.2855 and 1.2739. If the bulls halt the correction at this stage, further upside potential would be realized through resistance levels at 1.3211 – 1.3327 – 1.3447.

***

Technical Analysis Components:
  • Higher Timeframes: Ichimoku Kinko Hyo (9.26.52) and Fibonacci Kijun levels
  • H1: Classic Pivot Points and 120-period Moving Average (weekly long-term trend)
Evangelos Poulakis,
Analytical expert of InstaForex
© 2007-2025
Select timeframe
5
min
15
min
30
min
1
hour
4
hours
1
day
1
week
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

Recommended Stories

Forecast for EUR/USD on May 8, 2025

On Wednesday, the EUR/USD pair twice rebounded from the resistance zone of 1.1374–1.1383, reversed in favor of the U.S. dollar, and began a new decline toward the 100.0% corrective level

Samir Klishi 10:43 2025-05-08 UTC+2

Forex forecast 08/05/2025: EUR/USD, GBP/USD, USD/JPY, USDX, Gold and Bitcoin

Useful links: My other articles are available in this section InstaForex course for beginners Popular Analytics Open trading account Important: The begginers in forex trading need to be very careful

Sebastian Seliga 10:37 2025-05-08 UTC+2

GBP/USD. May 8th. Traders Confused Ahead of the Bank of England Meeting

On the hourly chart, the GBP/USD pair on Wednesday failed to continue its upward movement. Overnight, it consolidated below the 1.3344–1.3357 level, then quickly recovered to this zone and rebounded

Samir Klishi 10:19 2025-05-08 UTC+2

Technical Analysis of Intraday Price Movement of USD/JPY Main Currency Pairs, Thursday May 08, 2025.

On the 4-hour chart of the main currency pair USD/JPY, although it appears to be strengthening, is indicated by the movement of the USD/JPY price moving above the EMA (21)

Arief Makmur 09:48 2025-05-08 UTC+2

Technical Analysis of Intraday Price Movement of Nasdaq 100 Index, Thursday May 08, 2025.

With the appearance of Divergence between the Nasdaq 100 index price movement with the Stochastic Oscillator indicator and its price movement moving above the SMA (50) which has an upward

Arief Makmur 09:48 2025-05-08 UTC+2

EUR/USD Forecast for May 8, 2025

As expected, the Federal Reserve left its monetary policy unchanged following yesterday's meeting. Jerome Powell only slightly reinforced the market's expectations of rising inflation. Markets still anticipate the first rate

Laurie Bailey 05:09 2025-05-08 UTC+2

GBP/USD Forecast for May 8, 2025

At today's meeting, the Bank of England is expected to lower the key interest rate from 4.50% to 4.25%. Business media claim the market has already priced in this event

Laurie Bailey 05:09 2025-05-08 UTC+2

USD/JPY Forecast for May 8, 2025

USD/JPY The daily chart shows that the price is reversing downward from the green price channel lines. The first such reversal occurred on May 2, marked by a red arrow

Laurie Bailey 05:09 2025-05-08 UTC+2

GBP/USD. Analysis and Forecast

Today, the GBP/USD pair is pulling back from yesterday's bullish impulse. The retracement is supported by the modest strength of the U.S. dollar. From a technical standpoint, the pair

Irina Yanina 19:28 2025-05-07 UTC+2

Trading Signals for GOLD (XAU/USD) for May 7-9, 2025: buy above $3,360 (21 SMA - 8/8 Murray)

Early in the American session, gold is trading around 3,382, rebounding after reaching a low of 3,359 during the opening session. A strong technical rebound suggests a rally

Dimitrios Zappas 17:49 2025-05-07 UTC+2
Can't speak right now?
Ask your question in the chat.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.