Published: 2025-03-14T01:42:29.000Z
Chart GBP/USD Update: Consolidating below the 1.3000 figure
Technical Analyst
1
Drifting narrowly in range from the fresh high just below the 1.3000 figure
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3142 | * | 2023 year high | S1 | 1.2900 | * | congestion | |
| R3 | 1.3120 | * | 76.4% Sep/Jan fall | S2 | 1.2860 | * | 10 Mar low | |
| R2 | 1.3045 | * | congestion, Nov high | S3 | 1.2800 | * | 4 Mar high, congestion | |
| R1 | 1.3000 | ** | congestion | S4 | 1.2715 | ** | Feb high |
Asterisk denotes strength of level
01:40 GMT - Drifting narrowly in range from the fresh high just below the 1.3000 figure as the overbought intraday and daily studies fades the bullish momentum from the 28 February low. Break above the 1.3000 level, but not seen for now, will open up room for extension to 1.3045 congestion then the 1.3120/42, 76.4% Fibonacci level and 2023 year high. Meanwhile, support is raised to the 1.2900 congestion which extend to the Monday's low at 1.2860. This area now underpin and break here is needed to open up room for deeper corrective pullback to the 1.2800 congestion and strong support at 1.2715 , February high.