FX.co ★ GBP/USD analysis on 19 April

GBP/USD has started to edge lower after rising toward mid-1.3000s in the early European morning. The greenback preserves its strength on rising US T-bond yields and doesn't allow the pair to gain traction on Tuesday.

The static hurdle that seems to have formed at 1.3050 is reinforced by the 50-period and the 20-period SMAs on the four-hour chart. If that level turns into support, the next recovery targets could be seen at 1.3080 (100-period SMA) and 1.3100 (psychological level, static level).

With a four-hour close below 1.3000, GBP/USD could extend its slide toward 1.2970 (April 13 low) and 1.2920 (static level).