Published: 2025-05-27T07:31:13.000Z
Chart GBP/USD Update: Balanced at year highs - studies rising
Senior Technical Strategist
-
Little change, as deteriorating intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3800 | ** | congestion | S1 | 1.3500 | ** | congestion | |
| R3 | 1.3750~ | ** | January 2022 (y) high | S2 | 1.3400 | congestion | ||
| R2 | 1.3650 | * | congestion | S3 | 1.3300 | break level | ||
| R1 | 1.3600 | ** | congestion | S4 | 1.3250~ | 15 May low |
Asterisk denotes strength of level
08:10 BST - Little change, as deteriorating intraday studies keep near-term sentiment cautious and extend consolidation at 2025 year highs beneath congestion resistance at 1.3600. A minor pullback towards congestion support at 1.3500 is possible. But rising daily readings and positive weekly charts are expected to limit any break in renewed buying interest towards further congestion around 1.3400. Following cautious trade, fresh gains are looked for. A later break above 1.3600 will improve price action and extend broad January 2025 gains beyond congestion around 1.3650 towards the 1.3750~ year high of January 2022.