Published: 2025-04-07T02:22:56.000Z
Chart GBP/USD Update: Extending corrective pullback from 1.3207 high
Technical Analyst
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Extending pullback from the 1.3207 fresh year high as prices unwind the overbought daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3266 | * | Aug high | S1 | 1.2865 | * | 27 Mar low | |
| R3 | 1.3207 | ** | 3 Apr YTD high | S2 | 1.2810/00 | * | Dec high, congestion | |
| R2 | 1.3100 | * | congestion | S3 | 1.2785 | * | 38.2% Jan/Apr rally | |
| R1 | 1.3000/14 | * | congestion, Mar high | S4 | 1.2715 | ** | Feb high |
Asterisk denotes strength of level
02:15 GMT - Extending pullback from the 1.3207 fresh year high as prices unwind the overbought daily studies. Break of the 1.2865 support will see room to deeper corrective pullback to retrace strong rally from the 1.2100, January low. Lower will see room to the 1.2810/00 area and 1.2785, 38.2% Fibonacci level. Below this see strong support at the 1.2715 high of February which is expected to underpin. Meanwhile,resistance is lowered to the 1.3000/14 congestion and March high which is expected to cap. Regaining this will revive upside focus and open up the 1.3100 congestion and 1.3207 high to retest.