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Published: 22 April 2026,05:59
Chart The Market
Dow Jones, H4:
Dow Jones Industrial Average is showing a recovery attempt within a broader corrective structure, with price rebounding after a sharp selloff but still facing overhead resistance. The most important development here is the break back above the 48,200 zone, which previously acted as resistance and is now being tested as support. This suggests short-term strength; however, price is still trading within a wider corrective range following the earlier breakdown from the highs near 50,000.
Price is currently hovering around 49,150, approaching the 50,000 resistance zone, which aligns with the 0.382 retracement level. This area is acting as a key supply zone, and the recent rejection suggests that buyers may be losing momentum as price moves higher.
Momentum indicators are starting to reflect hesitation. The RSI is near overbought territory and turning lower, signaling waning bullish momentum, while the MACD remains positive but is beginning to flatten, indicating that upside strength is slowing.
Overall, the Dow Jones is attempting to recover but facing strong resistance, with increasing risk of a pullback unless price can decisively break above the 50,000 level.
Resistance Levels: 50,000.00, 51,615.00
Support Levels: 48,210.00, 47,135.00
GBPUSD, H4
GBP/USD is showing signs of exhaustion after a strong bullish push, with price now struggling to sustain momentum beneath a key resistance zone.The most important development here is the rejection from the 1.3580 resistance area, which has repeatedly capped upside moves. Despite the prior breakout rally, price failed to establish acceptance above this zone and has started to roll over, suggesting a potential shift into short-term consolidation or corrective pullback.
The latest bearish candlestick reflects this loss of momentum, printing approximately -0.2%, signaling early selling pressure emerging after the recent highs. Price is currently hovering around 1.3500, sitting just above the 1.3470 support zone. If this level gives way, downside could extend toward 1.3380, followed by a deeper retracement into 1.3300. The structure remains vulnerable as momentum begins to fade and higher highs are no longer being cleanly sustained.
Momentum indicators are also starting to soften. The RSI has pulled back toward the mid-40s, indicating fading bullish strength, while the MACD is rolling over with declining histogram bars suggesting momentum is shifting away from buyers.Overall, GBP/USD is entering a potential consolidation or pullback phase after an extended rally, with near-term bias turning neutral-to-bearish unless price can reclaim and hold above the key resistance zone.
Resistance Levels: 1.3580, 1.3700
Support Levels: 1.3470, 1.3385
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