Published: 2025-03-12T08:37:14.000Z
Chart GBP/USD Update: Balanced beneath fresh 2025 year high
Senior Technical Strategist
5
Little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3100/20 | * | cong; 76.4% ret of Sep-Jan fall | S1 | 1.2900 | ** | congestion | |
| R3 | 1.3050 | * | break level | S2 | 1.2860 | * | recent lows | |
| R2 | 1.3000 | ** | break level | S3 | 1.2800 | ** | congestion | |
| R1 | 1.2965 | 11 Mar YTD high | S4 | 1.2700 | * | congestion |
Asterisk denotes strength of level
08:10 GMT - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation above congestion support at 1.2900. Overbought daily stochastics are turning down and the positive daily Tension Indicator is showing early signs of flattening, suggesting any immediate tests above the 1.2965 current year high of 11 March could meet profit-taking towards resistance at 1.3000. In the coming sessions, risk is for a corrective pullback. Support is at 1.2900 and extends to the 1.2860 recent lows. A close beneath here would turn sentiment negative and open up a test of congestion around 1.2800.