Published: 04/04/25 at 02:16 UTC
Chart GBP/USD Update: Consolidating gains to 1.3207, fresh year high
Technical Analyst
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Break above the 1.3000/14 congestion and March high has seen sharp rally to reach fresh year high at 1.3207
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3312 | * | 25 Sep low | S1 | 1.3050 | congestion | ||
| R3 | 1.3266 | * | Aug high | S2 | 1.3000 | ** | congestion | |
| R2 | 1.3200/07 | * | congestion, 4 Apr YTD high | S3 | 1.2950 | * | congestion | |
| R1 | 1.3142 | * | 2023 year high | S4 | 1.2865 | ** | 27 Mar low |
Asterisk denotes strength of level
02:10 GMT - Break above the 1.3000/14 congestion and March high has seen sharp rally to reach fresh year high at 1.3207. Prices has since settled back in consolidation around 1.3050 as prices unwind the overbought intraday studies. However, pressure remains on the upside and consolidation expected to give way to further extension later. Higher will see room to the 1.3266 and 1.3312 resistance. Beyond this will expose the 1.3434, September 2024 year high to retest. Meanwhile, support is raised to the 1.3050/1.3000 congestion area which should underpin and sustain rally from 1.2865, 27 March low.