Published: 2024-12-12T01:57:40.000Z
Chart GBP/USD Update: Consoldating below 1.2800, room for higher later
Technical Analyst
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Little change, as prices extend consolidation below the 1.2800 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2960 | * | 50% Sep/Nov fall | S1 | 1.2700 | * | congestion | |
| R3 | 1.2900/10 | * | congestion | S2 | 1.2615/00 | ** | congestion, 15 Nov low | |
| R2 | 1.2844/50 | * | Oct low, 38.2% | S3 | 1.2500 | * | figure | |
| R1 | 1.2800 | * | congestion | S4 | 1.2487 | ** | 22 Nov low |
Asterisk denotes strength of level
02:00 GMT - Little change, as prices extend consolidation below the 1.2800 level with limited pullback below the 1.2750 congestion sustaining the bullish run-up from the November low. Higher low sought for break of the 1.2800 level to turn focus higher to retrace losses from the September high to the 1.2844/50, resistance and 38.2% Fibonacci retracement. Higher still, will open up room to the 1.2900 level and 1.2960, 50% Fibonacci level. Meanwhile, support at the 1.2700 level now underpin and only failure here will open up deeper pullback to the strong support at 1.2615/00 area.