Published: 2025-03-26T02:14:26.000Z
Chart GBP/USD Update: Limited pullback
Technical Analyst
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Steadied at the 1.2885 as prices consolidate pullback from the 1.3000 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3142 | ** | 2023 year high | S1 | 1.2860 | ** | 10 Mar low | |
| R3 | 1.3100 | * | congestion | S2 | 1.2800 | * | 4 Mar high, congestion | |
| R2 | 1.3050 | * | congestion, Nov high | S3 | 1.2715 | ** | Feb high | |
| R1 | 1.3000/14 | ** | congestion, 20 Mar YTD high | S4 | 1.2665 | * | 50% Jan/Mar rally |
Asterisk denotes strength of level
02:10 GMT - Steadied at the 1.2885 as prices consolidate pullback from the 1.3000 level. Daily readings have turned mixed and keeps deeper pullback on hold. However, daily and weekly studies remains overbought and suggest scope for deeper pullback later to strong support at 1.2860 and where break will open up room for deeper correction of the rally from the 1.2560, late-February low. Corrective pullback is expected to give way to renewed buying interest later and break above 1.3000 and 1.3014 high will open up room for extension to 1.3050/1.3100 area.