Published: 2025-03-27T01:52:03.000Z
Chart GBP/USD Update: Limited pullback, but room for lower
Technical Analyst
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Limited below the 1.2900 level but prices still leaning lower from test of the 1.3000 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3142 | ** | 2023 year high | S1 | 1.2860 | ** | 10 Mar low | |
| R3 | 1.3100 | * | congestion | S2 | 1.2800 | * | 4 Mar high, congestion | |
| R2 | 1.3050 | * | congestion, Nov high | S3 | 1.2715 | ** | Feb high | |
| R1 | 1.3000/14 | ** | congestion, 20 Mar YTD high | S4 | 1.2665 | * | 50% Jan/Mar rally |
Asterisk denotes strength of level
01:50 GMT - Limited below the 1.2900 level but prices leaning lower from test of the 1.3000 level. The daily studies continues to track lowered and see room for deeper pullback to strong support at 1.2860. Break here will open up room for deeper correction of the rally from the 1.2560, late-February low, and lower will see room to the 1.2800 support. Correction from the 1.3014 high is expected to give way to renewed buying interest later and break above 1.3000 and 1.3014 high will further extend the January gains and see room for extension to 1.3050/1.3100 area.