Lloyds Bank share price broke below the $72.50 support on Thursday, signaling a potential reversal after forming a triple-top pattern on the daily chart. The stock was previously on a strong uptrend, having registered three successive gains on the weekly time frame. However, that momentum has waned in recent days, with its losses piling up to 1.1% in the last five trading sessions. Consequently, it is on course to break its winning streak on the weekly chart.
Meanwhile, the bank’s first quarter earnings could add downward pressure confidence on the stock price. Lloyds Banking Group (LSE: LLOY) reported a 7% drop in pretax profits to £1.53 billion from the year-ago corresponding quarter earnings of £1.63 billion.
On a positive note, however, some of its latest figures have shown that it could stay resilient in the face of the disruption caused by the global trade tariff impasse. Lloyds reported net income of £4.39 billion, a growth of 4% from the same period in 2024. Meanwhile, its net interest margin grew by 3.03% from the previous quarter’s 2.95%, defying the Bank of England’s interest rate cut in early February. This adds support to Lloyds Bank share price in the near term.
The bank has set aside £309 million for impairment damages to cushion itself against potential defaults as the global economic outlook sours. That is a substantial jump from the £57 million allocated in the year-ago period.
Lloyds Bank Share Price Prediction
The momentum on Lloyds Bank share price favours the sellers to stay in control with action taking place below GBX 72.62. The first support will likely be at GBX 71.30 If the downward momentum strengthens, that support could be broken, potentially sending the price lower to test GBX 70.00.
On the other hand, moving above GBX 72.62 will signal the onset of bullish control, with the first barrier likely to come at GBX 73.64. Action above that level will invalidate the downside narrative. Furthermore, if the buyers stretch their control, Lloyds share price could go higher and test 74.32.
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