Published: 2025-03-10T02:09:54.000Z
Chart GBP/USD Update: Consolidating test of 1.2900/25 resistance
Technical Analyst
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Consolidating test of resistance at the 1.2900/25 congestion and 61.8% Fibonacci level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3120 | * | 76.4% Sep/Jan fall | S1 | 1.2865 | * | 6 Mar low | |
| R3 | 1.3045 | * | congestion, Nov high | S2 | 1.2800 | * | 4 Mar high, congestion | |
| R2 | 1.3000 | ** | congestion | S3 | 1.2750 | * | congestion | |
| R1 | 1.2925 | * | 61.8% Sep/Jan fall | S4 | 1.2715 | ** | Feb high |
Asterisk denotes strength of level
02:00 GMT - Consolidating test of resistance at the 1.2900/25 congestion and 61.8% Fibonacci level as prices unwind overbought intraday and daily studies. However, pressure remains firmly on the upside and break here will see room for extension to target the 1.3000 figure where reaction can be expected. Meanwhile, support is raised to the 1.2865 higher low which now underpin. Would take break here to see room for deeper corrective pullback to the 1.2800 congestion then the strong support at the 1.2715 , February high.