Published: 2025-03-11T01:59:48.000Z
Chart GBP/USD Update: Extend consolidation at 1.2900/25 resistance
Technical Analyst
1
Little change, as prices extend consolidation at the 1.2900/25 congestion and 61.8% Fibonacci level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3120 | * | 76.4% Sep/Jan fall | S1 | 1.2865 | * | 6 Mar low | |
| R3 | 1.3045 | * | congestion, Nov high | S2 | 1.2800 | * | 4 Mar high, congestion | |
| R2 | 1.3000 | ** | congestion | S3 | 1.2750 | * | congestion | |
| R1 | 1.2925 | * | 61.8% Sep/Jan fall | S4 | 1.2715 | ** | Feb high |
Asterisk denotes strength of level
02:00 GMT - Little change, as prices extend consolidation at the 1.2900/25 congestion and 61.8% Fibonacci level and unwind overbought intraday and daily studies. However, pressure remains firmly on the upside and break here will see room for extension to target the 1.3000 figure where reaction can be expected. Meanwhile, support is raised to the 1.2865/60 higher lows which now underpin. Would take break here to see room for corrective pullback to the 1.2800 congestion. Lower still, will see scope to the strong support at the 1.2715 , February high.