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30 Apr, 2025
5 minutes

Daily Technical Analysis:GBP/USD、Crude Oil

Introduction: Welcome to our daily technical analysis of the financial markets, focusing today on GBP/USD and Crude Oil. Let's dissect the latest news, market trends, and crucial price levels to watch out for.

1. GBP/USD Analysis:
News Summary:
The British pound was slightly lower against major currency pairs. The pound fell as investors became more confident that the Bank of England would cut interest rates at its May policy meeting. Driving the dovish expectations for the Bank of England were some easing in UK inflation expectations and rising tensions in the global economy. Last week, Bank of England policymakers also noted in a discussion with the Atlantic Council think tank that potential trade conflicts would have a net deflationary impact on the UK economy.

Trend Analysis:
We can see GBP/USD fluctuated at a high level and ran above the 48 hours moving average on H4 chart. On the other hand, the MACD double line and histogram bar shrink above the zero axis. The sell limit could be placed, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [1.3270]
Key Resistance Levels: [1.3500]
Pivot Points [1.3450]
2. Crude Oil Analysis:

News Summary:
Uncertainty surrounding OPEC+'s plans to increase production in June and growing concerns about the group's level of unity pose significant downside risks to the oil market. Kazakhstan is not expected to make up for the overproduction by cutting production after it was revealed that it would put national interests above compliance with production quotas. This could also lead to a significant increase in OPEC+’s supply in June, contributing to near-term market weakness.

Trend Analysis:
We can see crude oil oscillated downward at H4 level and ran below the 48 hours moving average. In addition, the MACD double line and energy bar expand below the zero axis. The sell limit could be used, stop loss is compulsory.

Today's Key Price Levels:
Key Support Levels: [57.00]
Key Resistance Levels: [63.00]
Pivot Points [61.00]

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