EL7.AI
ForexUpdated•Originally published 20 April 2026•Updated 21 April 2026•
1 min read

Geopolitical Tensions Drive Major Currencies to Break Key Technical Resistance

Key Facts

1Gold remains under pressure as Middle East tensions return following a US breach of a ceasefire agreement.
2The Euro broke above triangle formation resistance to reach an initial target of 1.8000.
3GBP/USD passed resistance at 1.3485, targeting 1.3580.

Financial markets continue to react to escalating geopolitical tensions, with GBP/USD reaching its initial target of 1.3580 and analysts now identifying further resistance at 1.3710-35. In the currency space, EUR/USD is establishing intraday supports at 1.1720 and 1.1600 to sustain its current upward momentum. Meanwhile, USD/JPY is testing a critical support zone between 157.25-65, with potential upside targets identified at 160.20 and 161.95. Gold maintains its potential for an advance wave as long as it remains above the 4695 support level, though a breach below this could lead to a drop toward 4633. These technical developments reflect a precise market response to geopolitical risks as investors monitor safe-haven flows and major forex pairs.