- GBP / USD Forecast suggests a strong goal for pound in April.
- The pound had a powerful month as the dollar failed due to the Trump’s aggressive tariff policy.
- Trump facilitated tariffs on cars, amplifying the dollar.
The GBP / USD forecast suggests a strong goal for pound in April, with a project of 3.8% gain against the US dollar. However, the consumer feeling remains weak in the UK due to economic uncertainty. Meanwhile, the dollar recovered a little on Tuesday after Trump has facilitated the car tariffs.
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Pound had a powerful month while the dollar failed because of the aggressive tariff policies. Reciprocal tariffs at the beginning of the month made the most harm on the dollar. Participants in the market threw American property, and consumer confidence sank. Despite the 90-day break, Trump escalated the trade war with China, collecting the concern of the American recession.
However, as the moon ended, the American president softened his position. He showed a readiness for lower tariffs in China and begins negotiations. Moreover, the automotive tariffs softened Tuesday, strengthening the dollar. Meanwhile, there is progress in commercial business to avoid reciprocal tariffs with countries like India.
Despite the gathering in pounds, data on Wednesday have revealed poor business. At the same time, experts believe that Trump Tariffs will harm grow. Therefore, the rally could slow down in the coming month.
GBP / USD Key events Today
- Employment of ADP employment
- In advance GDP K / K
- Employment cost index K / K
- Core PCE Index M / M
GBP / USD Technical forecast: Bullish Momentum fades on resistance 1.3401
On the technical side, GBP / USD price broke levels of resilience at 1.3401 to increase higher in the ascending level. However, the bulls could not withstand a strong move above the level and pulled back. However, the price trades above the 30th and RSI is above 50 years, supporting the bias of the bakery.
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GBP / USD maintained the steep rally, storing above the 30ths. However, the expensive is shallow when the price filled the resistance 1,3401. At the same time, the bulls weakened, and the price broke under 30ths. Although they recovered, RSI made a bearing divergence, indicating a weaker momentum.
Therefore, bears could reverse the trend by misdemeanoring below SMA and 1,3200 support. However, if the bulls regain swing, the price will be interrupted above 1,3401, continuing the Usttrend.
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