Daily Analysis By FXGlory

[FXGlory Ltd]

EURGBP Daily Technical and Fundamental Analysis for 04.28.2025


Time Zone: GMT +3
Time Frame: 4 Hours (H4)


Fundamental Analysis:
The EUR-GBP currency pair is facing mixed fundamental drivers today. For the British Pound (GBP), the Confederation of British Industry (CBI) is set to release its Distributive Trades Survey, a leading indicator of consumer spending. A stronger-than-expected result could boost GBP strength. Meanwhile, the Euro (EUR) is influenced by the quarterly Unemployment Rate released by the National Statistics Institute. A lower-than-forecast unemployment figure would support the EUR. Traders must remain cautious, as both indicators could inject notable volatility into the EURGBP pair, impacting short-term market sentiment.


Price Action:
On the EURGBP H4 chart, price action analysis shows that the pair is moving in a consistent bearish trend, forming lower highs as seen from the descending trendline. Despite a recent small bullish reaction from the support zone, the overall momentum remains to the downside. The price is struggling to break above the downward trendline resistance, suggesting sellers are still dominant. The last candles are showing indecision, indicating that a breakout or further rejection may soon define the next directional move.


Key Technical Indicators:
Volumes: Volume activity has recently decreased, which signals a lack of strong conviction from either buyers or sellers. This low volume environment often precedes a potential breakout, suggesting traders should watch for any volume spikes to confirm future direction.
RSI (Relative Strength Index): The RSI for EUR/GBP on H4 stands at 42.30, reflecting bearish momentum but not yet reaching the oversold territory. This suggests that the pair still has room to fall before becoming technically oversold, in line with the current bearish trend.
MACD (Moving Average Convergence Divergence): The MACD histogram remains slightly negative, and both MACD and signal lines are moving sideways below the zero line. This indicates ongoing bearish momentum but with a possible early sign of weakening selling pressure, hinting at a potential consolidation phase.


Support and Resistance:
Support: Immediate support is established around 0.85216, a level that previously acted as a strong floor and recently triggered a small bounce.
Resistance: The nearest resistance is aligned with 0.86170, coinciding with previous highs and the descending trendline, acting as a critical barrier for bullish attempts.


Conclusion and Consideration:
The EUR GBP H4 technical and fundamental chart daily analysis suggests a bearish bias remains dominant for the short term. Volumes are low, MACD is showing slight bearish momentum, and RSI indicates more downside room. However, traders should stay alert to potential changes in price action, especially considering today's scheduled economic releases for EUR and GBP. Fundamental surprises could trigger sharp movements outside of the current technical setup. Until a confirmed breakout above the descending trendline occurs, the bias favors selling rallies near resistance levels.


Disclaimer: The analysis provided for EUR/GBP is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURGBP. Market conditions can change quickly, so staying informed with the latest data is essential.


FXGlory
04.28.2025
 

[FXGlory Ltd]

EURUSD Daily Technical and Fundamental Analysis for 04.29.2025

 

Time Zone: GMT +3
Time Frame: 4 Hours (H4)

Fundamental Analysis:
Today's fundamental landscape is focused on significant economic indicators for both the Euro and the US Dollar. The Euro faces important consumer sentiment data from NIQ, providing insights into the financial confidence of European consumers. Traders will closely monitor this release, as increased consumer confidence typically strengthens the EUR. The USD, meanwhile, awaits trade balance figures and housing market updates. Positive US trade data and robust housing prices could bolster the USD, influencing EURUSD volatility significantly.

Price Action:
The EUR/USD price action analysis on the H4 chart indicates a possible end to the corrective phase. Previously, EUR-USD broke the initial ascending trend line, subsequently finding solid support at a second trend line. Currently, the price has rebounded upward, penetrating into the Ichimoku cloud (Kumo). The ongoing bullish candle formation suggests an attempt to retest the previously broken trend line resistance, potentially signaling a continuation of the broader bullish trend.

Key Technical Indicators:
Ichimoku Cloud: EUR USD price is currently trading inside the Kumo cloud, suggesting indecision or a transitional phase in the market. However, its upward direction within the cloud indicates bullish strength attempting a trend resumption. Traders should watch closely for a definitive breakout above the cloud for confirmation.
RSI (Relative Strength Index): RSI is at 55.09, reflecting neutral market conditions. This position implies that EURUSD has sufficient room to extend its bullish movement without reaching overbought conditions. The indicator supports bullish sentiment but remains neutral enough to accommodate further upward moves.
MACD (Moving Average Convergence Divergence): The MACD histogram is narrowing, signaling diminishing bearish momentum. A potential bullish crossover is likely, which would reinforce the bullish momentum and support a positive outlook for EUR-USD in the near term.

Support and Resistance:
Support: Immediate support is firmly established at 1.1310, corresponding to recent lows and the second trend line support.
Resistance: Immediate resistance is at the previously broken ascending trend line, around 1.1425. A breakout above this could push EURUSD towards the next resistance at 1.1465, marking recent swing highs.

Conclusion and Consideration:
EUR/USD analysis on the H4 timeframe highlights renewed bullish sentiment, reinforced by technical indicators such as Ichimoku Cloud, RSI, and MACD. Given today's significant economic data releases for both the Euro and the USD, traders should remain cautious of heightened volatility. Confirmation above the Ichimoku cloud and the broken ascending trend line resistance will likely strengthen bullish confidence significantly. However, any negative surprise in the consumer sentiment or US economic releases might bring the price back to test the established support levels.

Disclaimer: The analysis provided for EUR/USD is for informational purposes only and does not constitute investment advice. Traders are encouraged to perform their own analysis and research before making any trading decisions on EURUSD Market conditions can change quickly, so staying informed with the latest data is essential.

FXGlory
04.29.2025
 

[FXGlory Ltd]

GBPUSD Daily Technical and Fundamental Analysis for 04.30.2025

 

Time Zone: GMT +2
Time Frame: 4 Hours (H4)

Fundamental Analysis:
The GBP/USD currency pair reflects the exchange rate between the British Pound (GBP) and the US Dollar (USD). GBPUSD today experienced significant movements influenced by fundamental factors. The US dollar weakened to its lowest level of the year, primarily due to shifting expectations around US tariffs, which pressured the currency and led to a rally in GBP futures towards the 1.3 level. Conversely, the British pound demonstrated strength, with GBP/USD on the cusp of testing the 2024 high of 1.3434, as it broke out of the range-bound price action observed at the end of the previous week. This upward momentum in the pound was further supported by bullish sentiment in the market, as traders anticipated favorable economic conditions in the UK. Overall, the interplay between a weakening US dollar and a strengthening British pound contributed to the dynamic movements observed in the GBP/USD pair on this day.

 

Price Action:
The GBP/USD currency pair reflects the exchange rate between the British Pound (GBP) and the US Dollar (USD). As of April 30, 2025, technical indicators and price action reveal a bullish outlook within a clear flag pattern on the 4-hour chart. The pair is consolidating near the upper boundary of the flag, just below the resistance at approximately 1.3424, indicating potential continuation if this resistance level is breached. The Ichimoku Cloud reinforces the bullish sentiment, with the price trading well above the cloud, suggesting sustained upward momentum. RSI stands at 61.44, indicating the pair remains in bullish territory without being overbought, while the MACD histogram shows a reduction in bullish momentum, hinting at potential short-term consolidation or retracement. Overall, technical signals align with a cautiously bullish scenario, pending a breakout above the current resistance to confirm further upward movement.

Key Technical Indicators:
Ichimoku Cloud: The price is trading notably above the Ichimoku Cloud on the H4 chart, clearly indicating a bullish sentiment and suggesting buyers have dominant control. The cloud itself is ascending and widening, reinforcing the strength of the ongoing bullish momentum. A sustained position above the cloud typically serves as confirmation of upward direction, making it a critical area to watch for potential bullish continuation in GBP/USD.
Relative Strength Index (RSI): The RSI currently stands at 61.44, comfortably above the neutral 50 level but still below the overbought threshold of 70. This reading confirms the bullish momentum without signaling immediate exhaustion, implying that the GBP/USD pair still has potential room to extend gains. 
MACD (Moving Average Convergence Divergence): The MACD histogram bars have begun to contract slightly, indicating a mild reduction in bullish momentum. Although the MACD line remains above the signal line, which confirms an overall bullish bias, the narrowing histogram suggests caution in the short term.

 

Support and Resistance:
Support: Immediate support levels are identified at 1.32700, followed by 1.32300 and 1.32000. These levels represent key zones where buyers may re-enter on price dips, offering potential points of bullish entry or re-entry.
Resistance: Resistance levels stand prominently at 1.34200, with further resistance observed at 1.34500 and 1.35000. A sustained breakout above 1.34200 would reinforce bullish momentum, targeting subsequent resistance levels for potential upward continuation.

Conclusion and Consideration:
The GBPUSD H4 technical analysis reveals sustained bullish momentum, confirmed by the bullish positioning above the Ichimoku Cloud, supportive RSI at 61.44, and MACD remaining bullish but showing signs of short-term consolidation. Immediate support zones at 1.32700, 1.32300, and 1.32000 may provide attractive entry points if the price retraces for a healthy retest before continuing higher. On the upside, clear resistances at 1.34200, 1.34500, and notably at 1.35000 represent critical hurdles; a decisive breakout above these levels would reinforce bullish continuation. However, traders should remain cautious amid today's fundamental drivers, including shifting sentiment related to US tariff policy and positive market expectations for UK economic conditions. Heightened volatility is anticipated, emphasizing the importance of prudent risk management in this GBPUSD H4 forex analysis..

Disclaimer: The analysis provided here is for informational purposes only and should not be considered financial advice. Market conditions can change rapidly, and traders should perform their own research and analysis before making trading decisions. Past performance is not indicative of future results. Always trade responsibly.

 

FXGlory
04.30.2025