Published: 2025-05-19T01:24:09.000Z
Chart GBP/USD Update: Extending consolidation above 1.3250
Technical Analyst
-
Little change, as prices extend consolidation above support at 1.3250 congestion
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | * | congestion | S1 | 1.3250 | * | congestion | |
| R3 | 1.3435 | ** | Sep 2024 year high | S2 | 1.3200 | * | congestion | |
| R2 | 1.3400 | * | congestion | S3 | 1.3140 | ** | 12 May low | |
| R1 | 1.3360 | * | 14 May high | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
01:15 GMT - Little change, as prices extend consolidation above support at 1.3250 congestion following bounce below the 1.3140 low last week. Both the intraday and daily studies are tracking higher and suggest room for further probes above the 1.3300 level. Break will see room to retest the 1.3360 high and open up room for extension to retest the 1.3400 congestion then the 1.3435/44, 2024 year and April YTD highs. Meanwhile, support is raised to 1.3250 congestion and this should underpin and sustain bounce from the 1.3140 corrective low.