Published: 2025-05-19T08:16:56.000Z
Chart GBP/USD Update: Pressuring 1.3360 resistance, break in focus
Technical Analyst
1
Consolidation above support at 1.3250 congestion has given way to bounce to retest 1.3360 resistance
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | * | congestion | S1 | 1.3250 | * | congestion | |
| R3 | 1.3435 | ** | Sep 2024 year high | S2 | 1.3200 | * | congestion | |
| R2 | 1.3400 | * | congestion | S3 | 1.3140 | ** | 12 May low | |
| R1 | 1.3360 | * | 14 May high | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
08:15 GMT - Consolidation above support at 1.3250 congestion has given way to bounce to retest 1.3360 resistance. Clearance here will extend the gains from the 1.3140 low last week. Both the intraday and daily studies are tracking higher and suggest room for break to open up room for extension to retest the 1.3400 congestion then the strong resistance at 1.3435/44, 2024 year and April YTD highs. Clearance will extend the broader gains from 2022 year low. Meanwhile, support is raised to 1.3250 congestion and this should underpin and sustain bounce from the 1.3140 corrective low.