Published: 2025-03-25T02:40:35.000Z
Chart GBP/USD Update: Room for deeper pullback
Technical Analyst
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Limited on break of the 1.2900 level but consolidation here see scope for break lower to extend pullback from the 1.3014 high
| 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
02:40 GMT - Limited on break of the 1.2900 level but consolidation here see scope for break lower to extend pullback from the 1.3014 high. Both the daily and weekly studies are overbought and caution deeper corrective pullback to the 10 March low at 1.2860. Break here will open up room for deeper correction to 1.2800 congestion. Lower still, will see scope to 1.2715, February high. However, corrective pullback is expected to give way to fresh buying interest later and break above 1.3000 and 1.3014 high will open up room for extension to 1.3050/1.3100 area.