Published: 2024-01-09T01:56:10.000Z
Chart GBP/USD Update: Extending gains from the 1.2610/00 support
Technical Analyst
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Extending gains from the 1.2610/1.2600 support and see the 1.2800 level now within reach
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2848 | * | Jun high | S1 | 1.2700 | congestion | ||
| R3 | 1.2827 | ** | 28 Dec high | S2 | 1.2610/00 | * | 2 Jan low, congestion | |
| R2 | 1.2800 | * | congestion | S3 | 1.2560 | 21 Nov low | ||
| R1 | 1.2771 | 5 Jan high | S4 | 1.2536/00 | ** | 200-day MA, 13 Dec low |
Asterisk denotes strength of level
01:50 GMT - Extending gains from the 1.2610/1.2600 support and see the 1.2800 level now within reach. Daily studies are turning higher from negative readings and suggest scope for test here and the 1.2827 high. Clearance here will extend gains from the October low and see scope to 1.2848 resistance then the 1.2900 level. Meanwhile, support is now raised to the 1.2700 congestion ahead of the 1.2610/00 area. The latter now seen protecting he downside and only failure here will trigger deeper pullback to correct the October/December rally to the 1.2536/00, 200-day MA and December low.