Pound retesting support 17/4/2026

The British pound came under negative pressure against the US dollar as it approached the psychological resistance level of 1.3600, forcing it into a downward trend.

Technical Outlook – 4-Hour Timeframe:

Despite the downward bias, the simple moving averages are still supporting the price from above. Additionally, positive signals are beginning to appear on the Relative Strength Index (RSI) as it reaches oversold territory.

Likely Scenario:

If the current price holds above the support level of 1.3480, the bullish bias is more likely for the day, targeting 1.3570 as an initial target, with potential further gains toward 1.3620.

Conversely, a return to trading below 1.3460 would renew the likelihood of a return to the downtrend toward 1.3410.

Caution: The risk level is high amid ongoing trade and geopolitical tensions, and all scenarios remain possible.

Trading CFDs involves risks, and therefore all scenarios may be plausible. The information provided above is not a recommendation to sell or buy but rather an explanatory reading of price movement on the chart.

S1: 1.3485	R1: 1.3570
S2: 1.3465	R2: 1.3625
S3: 1.3410	R3: 1.3650