Published: 2025-04-09T02:00:15.000Z
Chart GBP/USD Update: Bounce turn focus to 1.2865 resistance
Technical Analyst
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Consolidation at the 1.2715 support has given way to bounce as prices unwind the oversold intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3050 | * | congestion | S1 | 1.2715 | ** | Feb high | |
| R3 | 1.3000/14 | * | congestion, Mar high | S2 | 1.2655 | * | 50% Jan/Apr rally | |
| R2 | 1.2900/33 | * | congestion, 7 Apr high | S3 | 1.2600 | * | congestion | |
| R1 | 1.2865 | ** | 27 Mar low | S4 | 1.2550 | ** | 5 Feb high |
Asterisk denotes strength of level
01:50 GMT - Consolidation at the 1.2715 support has given way to bounce as prices unwind the oversold intraday studies. Negative daily studies are oversold and suggest scope for bounce to unwind sharp losses from the 1.3207 high. Regaining the 1.2800 level see room for retest of resistance at 1.2865, 27 March low. Would need to regain this to clear the way for retest of the 1.2900/33 resistance. Beyond this will open up room to the 1.3000/14, congestion and March high. Meanwhile, support is raised to the 1.2800 level which should underpin and sustain bounce from the 1.2715 support.