GBPUSD

The GBP/USD had a difficult performance in April as the strength of the US dollar continued. The pair attempted to recover on Friday but it found a strong resistance at 1.2615. It has now pulled back and moved slightly below the 25-day and 50-day exponential moving averages (EMA). The Stochastic Oscillator moved from the overbought level.

Therefore, the pair will likely keep falling as investors target last month’s low of 1.2410. It will then bounce back after the BOE decision.