Published: 2025-02-18T01:56:59.000Z
Chart GBP/USD Update: Paused at 1.2635 high
Technical Analyst
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Limited on break above the 1.2600/10 resistance as prices settled back from the 1.2635 high to unwind overbought intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2728 | * | 17 Dec high | S1 | 1.2550 | * | 5 Feb high | |
| R3 | 1.2700 | * | congestion | S2 | 1.2500 | * | congestion | |
| R2 | 1.2665 | * | 19 Dec high | S3 | 1.2400 | * | congestion | |
| R1 | 1.2635 | ** | 17 Feb YTD high | S4 | 1.2360/32 | ** | congestion, 11 Feb low |
Asterisk denotes strength of level
01:50 GMT - Limited on break above the 1.2600/10 resistance as prices settled back from the 1.2635 high to unwind overbought intraday studies. Daily studies are stretched as well and caution corrective pullback though bullish structure from the 1.2100 low suggest scope for further gains ahead to further retrace losses from the September high. Higher will see room for extension to the 1.2665/1.2700 area then 1.2765, 50% Fibonacci level. Meanwhile, support is raised to the 1.2550/1.2500 congestion which should underpin and sustain gains from the 1.2100 low.