Market Analysis – April 15th
GBPUSD buyers fight back despite strong bearish sentiment. A few days ago, the bulls succumbed to bearish sentiment, causing the GBPUSD pair to break through the 1.25220 price zone. This level had previously served as a significant barrier for the buyers, but the sellers managed to pave their way through.
However, the buyers quickly regrouped and showed strong input at the start of this month, indicating their determination to regain control.
GBPUSD Key Levels
Resistance Levels: 1.28930, 1.28060
Support Levels: 1.25220, 1.23750
GBPUSD Long-Term Trend: Bullish
The bulls had initially gained momentum earlier this year, attempting to force their way beyond the 1.26830 significant level. Their strength was evident as they pushed the price higher, but their efforts were thwarted by the bears.
Last week, the bears responded with vigor, pulling the pair back below the 1.25220 key level. This shift in market sentiment has put the pound sterling on the sell side, creating a tense atmosphere for traders.
As we enter a new week, the battle between buyers and sellers is expected to intensify. Traders will be closely monitoring the price action, looking for any signs of a potential reversal or further plunge.
The Parabolic SAR Stop and Reverse indicator, a popular technical tool, currently signifies a downtrend in the market. This suggests that the sellers still have the upper hand, and a pullback to the 1.25220 market level may still be in play before any significant recovery can occur.
GBPUSD Short-Term Trend: Bullish
To gauge the strength of buyers and sellers, traders often rely on various technical indicators. One such indicator is the price oscillator, which measures the momentum of price movements. At present, the price oscillator indicator is below the 0.00 level, indicating a bearish sentiment in the market. This suggests that the buyers are currently weak and may struggle to make a solid statement in the near term.
You can purchase Lucky Block here. Buy LBLOCK
Note: Learn2.trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results.
- Broker
- Min Deposit
- Score
- Visit Broker
- Award-winning Cryptocurrency trading platform
- $100 minimum deposit,
- FCA & Cysec regulated
- 20% welcome bonus of upto $10,000
- Minimum deposit $100
- Verify your account before the bonus is credited
- Over 100 different financial products
- Invest from as little as $10
- Same-day withdrawal is possible
- Fund Moneta Markets account with a minimum of $250
- Opt in using the form to claim your 50% deposit bonus
Learn to Trade
Never Miss A Trade Again
Signal Notification
Real-time signal notifications whenever a signal is opened, closes or Updated
Get Alerts
Immediate alerts to your email and mobile phone.
Entry Price Levels
Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.