Published: 2025-05-27T01:29:26.000Z
Chart GBP/USD Update: Extending gains
Technical Analyst
1
Extending bullish break above 1.3435 resistance last week to fresh year high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3748 | ** | Jan 2022 year high | S1 | 1.3518/00 | 26 May low, congestion | ||
| R3 | 1.3700 | * | congestion | S2 | 1.3435 | ** | Sep 2024 year high | |
| R2 | 1.3645 | * | Feb 2022 high | S3 | 1.3400 | * | congestion | |
| R1 | 1.3570/00 | ** | congestion | S4 | 1.3360 | * | 14 May high |
Asterisk denotes strength of levelr
01:30 GMT - Extending bullish break above 1.3435 resistance last week to fresh year high. Prices are pressuring the 1.3570/1.3600 congestion area from February 2022. Positive daily and weekly studies continues to extend but are pushing into overbought areas and caution corrective pullback. Gains beyond 1.3600, if seen, will open up room to the 1.3700 congestion then 1.3748, 2022 year high. Meanwhile, support is raised to the previous high at 1.3518/00 area which is expected to underpin. Below this will see deeper correction to the 1.3435/1.3400 congestion area.