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FX.co ★ GBP/USD Hot Forecast for 7 April, 2021

GBP/USD Hot Forecast for 7 April, 2021

  • GBP/USD came under bearish pressure in early American session.
  • US Dollar Index turned positive on the day above 92.30.
  • 10-year US T-bond yield is up 1% on a daily basis.

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GBP/USD Hot Forecast for 7 April, 2021

After fluctuating around 1.3800, the GBP/USD lost its traction in the early American session and touched a fresh six-day low of 1.3750. At the time of writing, the pair was down 0.52% on a daily basis at 1.3752.

GBP/USD has slipped below 1.38, extending its losses as US yields resume their gains. The UK begins using Moderna's vaccines, expanding its campaign. Upbeat data underpins both currencies.

On the downside, support awaits at 1.3715, 31st March swing low and further below awaits critical barrier at 1.3680 that might slow down the bears. The upside barrier is at 1.3820 a significant support and resistance level and further north is 1.3900 psychological round figure mark.

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade
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