Chart GBP/USD Update: Leaning lower in consolidation
Leaning lower from the 1.3595 high as prices consolidate strong gains from the 1.3160 March low and unwind overbought intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | ** | Jul 2025 yr high | S1 | 1.3510/00 | * | 6 Feb low, congestion | |
| R3 | 1.3700 | * | congestion, 76.4% | S2 | 1.3480 | * | March high | |
| R2 | 1.3650 | * | congestion | S3 | 1.3400 | * | congestion | |
| R1 | 1.3600 | * | 61.8% Jan/Mar fall | S4 | 1.3380 | ** | 13 Apr low |
Asterisk denotes strength of level
01:35 GMT - Leaning lower from the 1.3595 high as prices consolidate strong gains from the 1.3160 March low and unwind overbought intraday and daily studies. Pullback see room to support at the 1.3510/00 congestion area and extending to 1.3480 March highs. This area should underpin and sustain strong gains from the 1.3160, 31 March YTD low. A later break above the 1.3595 high and the 1.3600 level will further retrace the January/March losses and see room to 1.3650/1.3700 area. Beyond this will return focus to 1.3788 and 1.3869, 2025 year high and January YTD high.