Key Highlights
- GBP/USD extended gains and settled above the 1.3500 zone.
- A major bullish trend line is forming with support at 1.3505 on the 4-hour chart.
- EUR/USD might attempt another increase if it clears 1.1850.
- Bitcoin corrected some gains from $78,000 and tested $74,000.
GBP/USD Technical Analysis
The British Pound climbed toward 1.3600 before correcting some gains against the US Dollar. GBP/USD dipped to 1.3500 and might soon resume upside.
Looking at the 4-hour chart, the pair settled above the 1.3500 level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). A low was formed at 1.3472, and the pair is now attempting another increase.
On the upside, the pair faces resistance at 1.3550 or the 61.8% Fib retracement level of the downside correction from the 1.3599 swing high to the 1.3472 low.
The first major resistance sits at 1.3565. The main resistance could be 1.3600. A close above 1.3600 could open doors for gains above 1.3620. In the stated case, the bulls could aim for a move to 1.3740.
Immediate support is seen near 1.3500. There is also a major bullish trend line forming with support at 1.3505. The next support could be 1.3475. A close below 1.3475 might push the pair toward 1.3420. The main support sits at 1.3380, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). Any more losses could initiate a fresh move to 1.3250 in the coming days.
Looking at Bitcoin, the price started a consolidation phase after the bears protected more gains above the $78,000 zone.
Upcoming Key Economic Events:
- UK Claimant Count Change for March 2026 – Forecast 21.4K, versus 24.7K previous.
- UK ILO Unemployment Rate for Feb 2026 (3M) – Forecast 5.2%, versus 5.2% previous.
- US Retail Sales for March 2026 (MoM) – Forecast +1.4%, versus +0.6% previous.
