GBP/USD Forecast Today 11/04: GBP Shoots Higher (Chart)

• The British pound has rallied rather significantly during the session on Thursday as we have seen the US dollar take it on the chin.
• Ultimately, the market is looking at the concerns when it comes to tariffs, and the US dollar has been sold off as a result.
• Furthermore, the CPI numbers came out much lower than anticipated during the trading session, so perhaps traders are starting to price in the idea of a recession in the United States.

Technical AnalysisThe technical analysis for the GBP/USD pair is all over the place, and it really comes down to what your time frame is. After all, short-term traders have been whipped in both directions over the last couple of days, but longer-term traders have been buyers over the last several months. That being said, the market is likely to continue to see a lot of volatility, see you do have to be cautious with your position sizing. That being said, it is worth noting that the pair is approaching the crucial 1.30 level, which of course is a large, round, psychologically significant figure, and an area where we have seen a lot of business conducted.Top Forex Brokers1 Get Started 74% of retail CFD accounts lose money I think the next couple of days will be crucial, because it will give us an idea as to what people are going to do for safety. After all, treasuries are selling off, giving higher interest rates in America, which is a bit counterintuitive. As long as that’s the case, then you will see the British pound in other currencies do quite well against the US dollar, but if traders run to treasuries for safety again, that will drive up the US dollar. As things stand right now, it feels a little bit like we are seeing a lot of capital flight from the United States, perhaps due to the tariff wars.That being said, there’s a lot to take in here, and I do think that we have a situation where we probably try to carve out some type of range using the 1.2750 level is the bottom, and it may be the 1.30 level as the top. We could even extend that to the 1.32 level, due to the massive amounts of volatility that we continue to see an all markets, not just this one.EURUSD Chart by TradingViewReady to trade the GBP/USD Forex analysis ? Check out the best forex trading company in UK worth using.