Published: 2025-05-22T01:25:38.000Z
Chart GBP/USD Update: Consolidating gains to fresh year high at 1.3488
Technical Analyst
2
Saw break to reach fresh year high at 1.3488 before settling back to consolidate below the 1.3435, 2024 year high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3570/00 | ** | congestion | S1 | 1.3360 | * | 14 May high | |
| R3 | 1.3500 | * | congestion | S2 | 1.3300 | * | congestion | |
| R2 | 1.3468 | ** | 21 May YTD high | S3 | 1.3250 | * | congestion | |
| R1 | 1.3435 | ** | Sep 2024 year high | S4 | 1.3200 | congestion |
Asterisk denotes strength of level
01:15 GMT - Saw break to reach fresh year high at 1.3488 before settling back to consolidate below the 1.3435, 2024 year high. Consolidation see prices unwinding overbought intraday studies but pressure remains on the upside and suggest scope for retest of the 1.3488 high. Clearance here will extend the broader gains from 2022 year low and see room to the 1.3500 level. Meanwhile, support is raised to the previous high at 1.3360 and this extend to the 1.3300 congestion. This area is expected to underpin and sustain bounce from the 1.3140, 12 May low.