21 August 2025,06:11
Chart The Market
21 August 2025, 06:11
GBPUSD, H4:
GBP/USD is trading under pressure below the 1.3500 handle, currently hovering near 1.3450 after failing to sustain gains above the 50-period moving average. The pair has slipped beneath both the 20- and 50-period SMAs, with the breakdown zone at 1.3485 now acting as immediate resistance. Price action has turned cautious, with sellers attempting to establish a lower base that could expose the 1.3345 support level.
Momentum indicators reinforce the bearish tilt. The Relative Strength Index (RSI) has eased to 36, edging closer to oversold territory but still showing room for further downside. Meanwhile, the MACD remains in negative territory, with the histogram printing red bars and both signal lines trending lower, highlighting sustained selling pressure.
A decisive close below 1.3345 would pave the way for a deeper retracement toward 1.3255, with stronger downside risk emerging if that level fails to hold. On the upside, a recovery above 1.3485 would be needed to neutralize immediate bearish pressure, with further resistance at 1.3595 and the 200-period SMA likely to cap gains.
Resistance Levels:1.3485, 1.3595
Support Levels: 1.3345, 1.3255
NZDUSD, H4
NZD/USD remains under heavy selling pressure, currently trading near 0.5825 after a sharp breakdown below the 0.5890 support level. The pair has extended losses beneath both the 20- and 50-period moving averages, with the former breakdown zone around 0.5890 now acting as resistance. Price action suggests bearish momentum remains dominant, with sellers eyeing the next key support at 0.5795.
Momentum indicators reinforce the bearish outlook. The Relative Strength Index (RSI) has plunged to 24, signaling the pair is deeply oversold and stretched to the downside, though it also raises the risk of a short-term corrective bounce. The MACD remains firmly negative, with its histogram showing sustained red momentum and signal lines diverging further, reflecting accelerating downside momentum.
A decisive close below 0.5795 would likely expose further downside toward 0.5740. On the other hand, a recovery above 0.5890 would be required to ease immediate bearish pressure, with stronger resistance seen at 0.5925 and the 200-period SMA overhead.
Resistance Levels: 0.5850, 0.5890
Support Levels: 0.5795, 0.5760
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