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Published: 21 April 2026,03:47
Chart The Market
NASDAQ, H4:
Nasdaq is showing a strong bullish breakout, with price aggressively reclaiming key levels and shifting back into an upside structure. The most important development here is the decisive break above the 25,000–25,100 resistance zone, which previously acted as a major supply area. This level has now flipped into support, confirming a transition from a bearish phase into bullish continuation. The breakout is also supported by a sharp move above the descending trendline, signaling that buyers have regained control.
Momentum indicators strongly support the bullish move. The RSI is pushing toward overbought territory (near 80), reflecting strong buying pressure, though also warning of potential short-term exhaustion. Meanwhile, the MACD is sharply positive and expanding, confirming strong bullish momentum with no clear signs of divergence yet.
Overall, Nasdaq is in a breakout and continuation phase, with upside momentum dominant. While near-term pullbacks are possible due to overbought conditions, the broader bias remains bullish as long as price holds above the breakout zone.
Resistance Levels: 27,455.00, 28,525.00
Support Levels: 26,385.00, 25,060.00
GBPUSD, H4
GBP/USD is showing signs of bullish exhaustion after a strong upward move, with price now consolidating below a key resistance zone. The most important development here is the rejection from the 1.3580 resistance area, where price attempted to break higher but failed to sustain momentum. This zone has acted as a supply area, and the inability to hold above it suggests that buyers are losing control in the short term. The prior bullish structure remains intact, but momentum is clearly slowing.
Price is currently hovering around 1.3525, sitting just above the 1.3470 support zone, which previously acted as resistance and has now flipped into support. If this level holds, the pair may continue consolidating. However, a clean break below 1.3470 would expose downside toward 1.3380, followed by a deeper move toward 1.3295, signaling a shift into a corrective phase.On the upside, resistance remains firm at 1.3580, and only a sustained breakout above this zone would confirm continuation of the bullish trend toward higher levels. Until then, price is likely to remain range-bound with a slight bearish tilt.
Momentum indicators support this view. The RSI is drifting around the mid-50s and turning lower, indicating waning bullish momentum, while the MACD is flattening and edging toward a bearish crossover, suggesting that upside strength is fading.Overall, GBP/USD is stalling beneath resistance, with increasing risk of a short-term pullback or consolidation, unless buyers can reclaim the recent highs.
Resistance Levels: 1.3580, 1.3700
Support Levels: 1.3470, 1.3385
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