Published: 2025-05-09T02:05:59.000Z
Chart GBP/USD Update: Extending pullback from 1.3435 resistance, 1.3200 at risk
Technical Analyst
1
Under pressure as break of the 1.3260/1.3233 support confirms a top pattern at the 1.3435 high and see room for deeper pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | * | congestion | S1 | 1.3207/00 | ** | 3 Apr high, congestion | |
| R3 | 1.3435 | ** | Sep 2024 year high | S2 | 1.3142 | * | Jul 2023 year high | |
| R2 | 1.3400 | * | congestion | S3 | 1.3100 | * | congestion | |
| R1 | 1.3300 | * | congestion | S4 | 1.3045 | * | Jul 2024 high, congestion |
Asterisk denotes strength of level
02:00 GMT - Under pressure as break of the 1.3260/1.3233 support confirms a top pattern at the 1.3435 high and see room for deeper pullback to correct the January/April rally. Both daily and weekly studies have turned lower from overbought readings and see the 1.3200 level at risk. Break here will see room to support at 1.3142. Lower still will see room to the 1.3100/1.3045 area. Meanwhile, resistance is lowered to the 1.3300 congestion which is expected to cap and sustain losses from the 1.3400/1.3435 highs.