Published: 2025-03-06T02:17:44.000Z
Chart GBP/USD Update: Consolidating test of 1.2900/25 resistance
Technical Analyst
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Break above the 1.2715 February high has seen follow-through to reach the 1.2900/25, congestion and 61.8% Fibonacci level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3047 | * | Nov high | S1 | 1.2800 | * | 4 Mar high, congestion | |
| R3 | 1.3000 | ** | congestion | S2 | 1.2750 | * | congestion | |
| R2 | 1.2925 | * | 61.8% Sep/Jan fall | S3 | 1.2715 | ** | 26 Feb high | |
| R1 | 1.2900 | * | congestion | S4 | 1.2670 | * | congestion |
Asterisk denotes strength of level
02:10 GMT - Break above the 1.2715 February high has seen follow-through above the December high to reach the 1.2900/25 congestion and 61.8% Fibonacci level. Reaction here see prices unwinding the overbought intraday and daily studies while break, but not seen for now, will open up room for further extension to the 1.3000 level. Meanwhile, support is raised to the 1.2800 level which now underpin. Would take break here to see room for deeper pullback to the 1.2750 congestion then the strong support at the 1.2715/00 area.