Ethereum price (ETHUSD) rose in its last intraday trading, settled above the resistance at $1.800, to move in its way to confirm breaching this stubborn resistance, and we are still waiting for a good close above it, while the continuation of the positive support due to its trading above EMA50, with the emergence of the positive signals on the (RSI).

Therefore, our expectations suggest (ETHUSD) price rise in their upcoming trading on the intraday levels, conditioned by its stability above $1,800, to target the next main resistance at $1,900.

The expected trading range for today is between $1,750 support and $1,865 resistance.

Today’s forecast: Bullish

• For two consecutive trading sessions, the British pound has retreated from its recent highs against the US dollar, but this weakness is likely temporary.
• The GBP/USD price is stabilizing around the support level of 1.3278 at the time of writing the analysis, giving up the gains of the sharp upward shift that reached the resistance level of 1.3444.
• According to licensed trading platforms, the US dollar’s value has risen, and stock markets declined during mid-week trading as investors questioned the weak US GDP report that showed an economic contraction in the first quarter (-0.2% quarter-on-quarter)

US Dollar Stronger Despite Economic Recession

According to Forex market trading, the US dollar has recovered despite the announcement of a US economic recession. As announced, this was its first decline in three years, disappointing markets that had expected a stable reading after the fourth-quarter 2024 reading of 0.4% quarter-on-quarter. According to economic experts, stagflation concerns were reinforced by yesterday’s data, which showed an unexpected contraction in US GDP during the first quarter, alongside a surprisingly large jump in core personal consumption expenditures (PCE) prices.

At the same time, the disappointment was reflected in the S&P 500 stock index, which is trading lower today along with other major US exchanges. In 2025, the dollar and US stocks have tended to decline together, meaning the US dollar’s rise is surprising and raises questions about whether the dollar is regaining its safe-haven status. It is too early to say for sure, as today is the last day of the month, and end-of-month and quarter flows are likely to affect the market. Currency analysts have indicated that the US dollar is expected to rise.

Trading Tips:

Dear TradersUp follower, keep in mind that the British pound will remain supported by positive sentiment and the good performance of financial markets.

The dollar’s strength also suggests that the US GDP data was not as bad as the headline decline indicates, given some large distortions caused by importers anticipating Trump’s tariffs.

Will GBP/USD Rise in the Coming Days?

Recently, the US dollar’s rally has seen the GBP/USD exchange rate fall further from its three-year high of 1.3444. When it reached this level on Tuesday, we had warned of a strong horizontal resistance level that could cause a setback for the pound. This resistance has proven its strength, and the GBP/USD decline extends below the 1.33 support level. For now, strategists are maintaining a “buy the dip” mentality.

Technical Analysis for the GPB/USD pair today:

On the technical indicator front, according to the performance on the daily timeframe chart, the 14-day RSI is heading towards the midline, confirming the start of downward shifts awaiting more momentum, while the MACD is at the beginning of a downward shift. The performance of GBP/USD today will be affected by the announcement of the UK Manufacturing PMI and Net Lending to Individuals in Britain at 11:30 AM Egypt time. Later, US economic releases will follow, with the US weekly jobless claims announced at 01:30 PM Egypt time, and then the ISM Manufacturing PMI reading at 05:00 PM Egypt time.

In addition, investor sentiment regarding risk appetite will also influence the performance of the British pound against the US dollar in the coming trading hours.

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USD/JPY Technical Analysis

The US dollar has shot higher as the Bank of Japan meeting has come and gone. The 145 yen level is an area that I think a lot of people will be paying attention to, and we did, in fact, see some resistance there. Nonetheless, this is looking more and more like a market that is trying to get away from the yen, and you definitely see that in other currencies as well. If we can get a daily close above the 145 level, then I think you have the makings of a massive double bottom that goes back to September of 2024. Short-term pullbacks would be expected, and I do expect a lot of noise here, considering that we have the jobs number coming out on Friday as well.

AUD/USD Technical Analysis

The Australian dollar continues to chop back and forth right around the 0.64 level. Quite frankly, I just don’t think it has anywhere to be right now as it struggles with the 200-day EMA. It’s got a lot of inertia to digest here, and maybe that’s all we’re doing. But the longer we stay here without some type of upward trajectory, the more likely it is we do break down. As things stand right now, though, in the Australian dollar, you have to remain somewhat neutral.

For a look at all of today’s economic events, check out our economic calendar.

The GBPUSD declined in its recent intraday trading, with the emergence of the negative signals on the (RSI), which caused the loss of the previous positive momentum, and that led it to break a minor bullish bias line that represents a dynamic support for the price of recent trading.

The pressure increased with surpassing the support of EMA50, which is considered as an extra confirmation for the weakness of the previous bullish trend, and the price move to a clear correctional station that threatens for more downside moves, especially after losing technical support that might limit the negative momentum.

Therefore, our expectations suggest more of the downside movement for the GBPUSD price in its upcoming intraday trading, if the price settles below 1.3345, to target the critical support at 1.3230.

The expected trading range is between 1.3270 support and 1.3365 resistance.

Today’s forecast: Bearish

Copper price activated the negative attack, achieving some of the negative targets by hitting $4.4560, to bounce to settle near the moving average 55 at the $4.5600 level, attempting to gather more of the negative momentum in the current period trading.

Forming extra barrier at 50% Fibonacci correction level at $4.6600, increasing the chances for resuming the negative scenario, to repeat the pressure on $4.4500 level, and breaking it might extend the losses towards $4.3100, to form the next main target for the negative trading.

The expected trading range for today is between $4.3100 and $4.6100

Trend forecast: Bearish

May 1, 2025 – Written by Frank Davies

STORY LINK GBP/USD Forecast: Pound Weakens Against Stronger Dollar Despite Downbeat US GDP

The Pound-to-Dollar exchange rate softened on Wednesday after the release of the US’s latest GDP data and core PCE price index.

At the time of writing, GBP/USD was trading at approximately $1.3348, down roughly 0.5% from the start of Wednesday’s session.

On Wednesday, the US Dollar (USD) managed to climb against most of its peers, despite the release of two economic data points that fell short of forecasts.

First, the latest US GDP reading dropped from 2.4% to -0.3%, well below the expected 0.3%, ramping up concerns about a potential US recession.

Later, the core PCE price index, the Federal Reserve’s preferred inflation gauge, cooled from 3% to 2.6%, in line with market expectations, which led to increased bets on a Federal Reserve interest rate cut.

Despite these economic indicators, the Dollar maintained its strength and gained ground against the majority of its counterparts.

On Wednesday, the Pound (GBP) struggled to attract buyers and lost ground against several major currencies amid a lull in UK economic data.

The decline in Sterling was mainly fuelled by growing expectations of an interest rate cut by the Bank of England (BoE) at their upcoming policy meeting next week.

As markets are now almost entirely pricing in a 25 basis-point interest rate cut, Sterling had little to no positive economic factors to bolster its performance, making it challenging for the currency to gain traction with investors.

Looking ahead to Thursday, the main driver of movement for the Pound US exchange rate will likely be the release of some US economic data.

The US is set to publish its latest ISM manufacturing PMI data for April, which is forecast to dip further into contraction territory (a reading below 50).

If the data meets these expectations, the USD could weaken as we approach the end of the week.

For the Pound, the UK economic calendar will remain sparse for the remainder of the week, meaning GBP exchange rates are likely to be influenced by broader market sentiment.

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TAGS: Pound Dollar Forecasts

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April 30, 2025 – Written by Frank Davies

STORY LINK Euro to Dollar Forecasts Revised to 1.15 (from 1.04) at HSBC

After surging to 3-year highs above 1.1550, the Euro to Dollar exchange rate (EUR/USD) has been in corrective mode with buying below 1.1300.

US economic concerns have increased, although the dollar has demonstrated some resilience in global markets. There will be some impact from month-end trading during the day which may mask underlying trends.

Scotiabank commented; “The latest period of consolidation has not yet violated the bullish trend, as this would require a break below the mid-1.12s. The softening RSI is worrisome however, and hints at waning momentum. Near-term support is expected around 1.1300 and near-term resistance is expected above 1.1500.”

HSBC has revised its end-2025 EUR/USD forecast to 1.15 from 1.04 previously.

According to the bank; “cyclical, political and structural debates prompting us to abandon our dollar bullish journey. New FX forecasts entail a weaker USD; it will take time before we want to get back on board.”

According to ING; “While the data flow should continue to prove a net-negative, markets are clearly welcoming Trump’s efforts to ease some tariff pain. We still believe that a constant flow of constructive news on trade (especially regarding China) is needed to keep equities and the dollar supported, but for now, it might be enough to let the dollar stabilise into Friday’s payrolls.”

MUFG expects the Wall Street performance will be important with sharp US losses on Wednesday; “the price action in equities indicates recession is not anticipated and if the data points in that direction, which we believe is likely, then equities are unlikely to hold these levels.”

It added; “Renewed risk-off in equities combined with falling front-end yields as Fed rate cuts become more likely will only reinforce the downside momentum for the dollar.”

The latest ADP data reported an increase in private payrolls of 62,000 for April compared with consensus forecasts of around 115,000 while the March increase was revised slightly lower to 147,000 from the flash reading of 155,000.

ADP chief economist Dr. Nela Richardson commented; “Unease is the word of the day. Employers are trying to reconcile policy and consumer uncertainty with a run of mostly positive economic data. It can be difficult to make hiring decisions in such an environment.”

MUFG commented; “There is compelling evidence now that the US labour market is set to deteriorate although whether that will be evident as soon as in the NFP data for April to be released on Friday is less clear.”

US GDP for the first quarter of 2025 was estimated at an annualised -0.3% compared with the previous figure of 2.4%.

Consumer spending was positive at 1.8% from 4.0% previously while investment posted a significant gain.

There was, however, a surge in imports ahead of the imposition of tariffs and this was the key element pushing the economy into contraction territory while government spending also edged lower.

ING commented; “We suspect personal spending figures may not look that grim, and that the dollar can show some resilience to a negative GDP print today.”

According to Scotiabank the overall dollar performance has been disappointing; “The USD has not benefited in an obvious way from anticipated month-end flows which may be another sign of trouble if that absence of demand reflects foreign investors choosing not to adjust hedges after the past month’s swings in US asset markets where US fixed income especially has underperformed.”

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TAGS: Currency Predictions Euro Dollar Forecasts

Created on April 30, 2025

• The British pound pulled back just a bit during the trading session on Tuesday as we are hanging around the 1.34 level.
• The 1.34 level has been important more than once.
• And I think at this point in time, it does make a certain amount of sense that we see a lot of back and forth.
• The market is starting to suggest that maybe they could break out to the upside. This is what momentum over the last few months may suggest, but we have work to do.

And the candlestick from the Monday session was rather impressive. That suggests that we have the ability to eventually break out to the upside and maybe even go as high as the 1.3675 level where we had a resistance barrier. On the other hand, this is an area that has been important multiple times in the past. And if we pull back from here, it’s likely that we could drop down pretty nastily. The 1.32 level I think is support though. So, it’s really not until we break down below there that I would start shorting.

US Dollar Under Attack Overall

Keep in mind that the US dollar of course has been under attack by multiple currencies at the moment and the British pound does seem to be seeing a lot of inflows still despite the fact that it is most certainly overbought. I like the idea of attempting a long in this GBP/USD currency pair on either a break above the highs of the last couple of days or a pullback in a bounce, especially near the 1.32 level.

If we break below the 1.32 level and we see the U S dollar strengthening against other currencies as well, then it’s time to start selling. In that environment, we may have seen a complete shift in sentiment.

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Created on April 30, 2025

• The US dollar initially rallied against the Japanese yen during the trading session on Tuesday but has given back most of the gains.
• By doing so, this suggests that we are in fact going to continue to see a lot of hesitation.
• I do think that we are still in the midst of trying to form some type of supportive of basing pattern, especially as the ¥140 level seems to be a bit of an epicenter for support.
• Area that I think will remember the previous attempt to break down the road, so I do think that it is an epicenter of importance.

Ultimately, this is a market that will continue to pay close attention to the overall tariff situation, which Japan is a major player when it comes to global trade. The Americans and the Japanese are getting fairly close to some type of deal from what we are hearing in the news, so that could have a major influence on what happens next. All things being equal, if we were to break down below the ¥140 level, that would probably end up being a very negative turn of events.

Technical Analysis

The technical analysis for this USD/JPY pair is rather negative, but you can also make an argument that the ¥140 level is so supportive that you at least have to start to look for the idea of forming a basing pattern, which is the beginning of turning this whole thing around. If we were to break higher, there are multiple areas that I would be concerned about if I were long, starting with the ¥144 level, followed by the 50 Day EMA near the ¥146.75.

I do believe that this will probably end up being a very noisy market that is choppy and difficult, so be aware of the fact that we could see some issues hanging onto positions for a lot of traders. Position sizing will be crucial as usual, and therefore you need to be aware of your size as well.

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