Published: 2025-03-28T01:37:03.000Z
Chart GBP/USD Update: Rebound return focus to 1.3000
Technical Analyst
2
Drift lower has given way to rebound above the 1.2860 support to approach the 1.3000 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3142 | ** | 2023 year high | S1 | 1.2860 | ** | 10 Mar low | |
| R3 | 1.3100 | * | congestion | S2 | 1.2800 | * | 4 Mar high, congestion | |
| R2 | 1.3050 | * | congestion, Nov high | S3 | 1.2715 | ** | Feb high | |
| R1 | 1.3000/14 | ** | congestion, 20 Mar YTD high | S4 | 1.2665 | * | 50% Jan/Mar rally |
Asterisk denotes strength of level
01:30 GMT - Drift lower has given way to rebound above the 1.2860 support to approach the 1.3000 level. The daily studies have turned mixed at oversold areas and suggest scope for stronger gains to retest the 1.3000/14 highs. Clearance here will extend the January gains to retest the November high at 1.3050 and the 1.3100 congestion though potential will turn to the 1.3434, September high. Support at the 1.2865/60 lows should underpin. Failure here will see room for deeper corrective pullback to support at the 1.2800 level and 1.2715, February high.