Published: 2025-06-06T02:00:54.000Z
Chart GBP/USD Update: Consolidating stab to 1.3616, fresh year high
Technical Analyst
2
Settled back in consolidation following stab to fresh year high at 1.3616
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3750 | ** | Jan 2022 year high | S1 | 1.3500 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3435 | ** | Sep 2024 year high | |
| R2 | 1.3645 | * | Feb 2022 high | S3 | 1.3400 | * | congestion | |
| R1 | 1.3616 | ** | 5 Jun YTD high | S4 | 1.3360 | * | 14 May high |
Asterisk denotes strength of levelr
01:55 GMT - Settled back in consolidation following stab to fresh year high at 1.3616. Daily studies remains positive and higher will further extend gains from the 1.3140 May low to target resistance at 1.3645 then the 1.3700 level. However, gains see prices pushing deep into overbought areas and caution corrective pullback. Meanwhile, support remains at the 1.3500 congestion and only below here will see room for deeper corrective pullback to strong support at the 1.3435/1.3400 area. The latter is expected to underpin and sustain gains from May low.