FxWirePro- EURGBP Trade idea

EUR/USD gained slightly ahead of Trump tariff announcement.  It hits a intraday high of 1.08728 and currently trading around 1.08555.

The ADP National Employment Report for March 2025 shows a strong gain of 155,000 jobs in the U.S. private sector, higher than previously projected at about 105,000. The growth is far higher than February's 77,000 job addition, and annual compensation also increased by 4.6%. The healthy employment and wage growth indicate a healthy labor market, which may impact financial markets, the Federal Reserve's policy, and overall economic projections, beyond initial expectations.

Technical Analysis of EUR/USD

The pair is holding  above short and  long term moving average in the 4-hour chart. Near-term resistance is seen at 1.08650; a break above this may push the pair to targets of  1.0900/1.0950/1.1000. Major bullish momentum is likely only if prices are able to break above 1.1000 where levels of  1.1070/1.1150. On the downside, support is seen at 1.0730 any violation below will drag the pair to 1.0700/1.0660/1.0600/1.0500/ 1.0460.

Market Indicators and Trading Strategy

Commodity Channel Index (CCI)-  Neutral

Average Directional Movement Index (ADX) - Neutral

 It is good to sell on rallies around 1.08650 with a stop-loss at 1.0900 for a target price of 1.072.