Published: 2025-05-15T02:04:21.000Z
Chart GBP/USD Update: Limited above the 1.3300 level
Technical Analyst
1
Failed to sustain break above the 1.3300 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3435 | ** | Sep 2024 year high | S1 | 1.3200 | * | congestion | |
| R3 | 1.3400 | * | congestion | S2 | 1.3140 | ** | 12 May low | |
| R2 | 1.3450 | * | congestion | S3 | 1.3100 | * | congestion | |
| R1 | 1.3300 | * | congestion | S4 | 1.3045 | * | Jul 2024 high, congestion |
Asterisk denotes strength of level
01:55 GMT - Failed to sustain break above the 1.3300 level as prices unwind the overbought intraday studies but daily studies remains positive and suggest scope for further test above here. Higher will see room to the 1.3350 and 1.3400 congestion which is expected to cap. Choppy trade expected to give way to fresh selling pressure later with support raised to the 1.3233/00 congestion area. Below this will open up the 1.3140 low to retest and see room for deeper pullback to retrace rally from the January low and see room to 1.3045 then 1.3000 congestion.