Published: 2025-05-30T02:11:06.000Z
Chart GBP/USD Update: Limited pullback
Technical Analyst
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Bounce from the 1.3435/1.3400 support see prices back to consolidate at the 1.3500 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3700 | * | congestion | S1 | 1.3435 | ** | Sep 2024 year high | |
| R3 | 1.3645 | * | Feb 2022 high | S2 | 1.3400 | * | congestion | |
| R2 | 1.3593 | ** | 26 May YTD high | S3 | 1.3360 | * | 14 May high | |
| R1 | 1.3500 | * | congestion | S4 | 1.3250 | * | congestion |
Asterisk denotes strength of levelr
02:05 GMT - Bounce from the 1.3435/1.3400 support see prices back to consolidate at the 1.3500 level. Overbought daily studies suggest upside still likely to remain limited and deeper pullback to retrace gains from 12 May low at 1.3140 cannot be ruled out. Below 1.3435/1.3400 support will see room to support at 1.3360 then the 1.3300/1.3250 congestion. Would take break above Monday's current year high at 1.3593 to extend the underlying bull trend from September 2022 low and further retrace the steep 2021/2022 losses.