Published: 2025-04-01T01:43:24.000Z
Chart GBP/USD Update: Extend consolidation below 1.3000
Technical Analyst
1
Little change, as prices extend consolidation below 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
01:40 GMT - Little change, as prices extend consolidation below the 1.3000 level. Pullback has seen support at 1.2860 keeping losses in check as the daily studies turns mixed and suggest further ranging action here. Would take break here to open up room for deeper corrective pullback to the support at the 1.2800 level and 1.2715 high of February. A later break of the 1.3000 congestion will extend the January gains to retest the November high at 1.3050 and the 1.3100 congestion. Higher still, will see potential to the 1.3434, September high.