Published: 2025-03-13T08:34:27.000Z
Chart GBP/USD Update: Balanced at fresh year highs beneath 1.3000
Senior Technical Strategist
3
Still little change
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3100/20 | * | cong; 76.4% ret of Sep-Jan fall | S1 | 1.2900 | ** | congestion | |
| R3 | 1.3050 | * | break level | S2 | 1.2860 | * | recent lows | |
| R2 | 1.3000 | ** | break level | S3 | 1.2800 | ** | congestion | |
| R1 | 1.2988 | * | 12 Mar YTD high | S4 | 1.2700 | * | congestion |
Asterisk denotes strength of level
08:10 GMT - Still little change, as deteriorating intraday studies keep near-term sentiment cautious and extend consolidation beneath the 1.2988 fresh year high of 12 March. Overbought daily stochastics have ticked higher, suggesting potential for a test of 1.3000. But the positive daily Tension Indicator is showing signs of flattening, suggesting any immediate tests above here could meet profit-taking towards 1.3050. In the coming sessions, risk is for a corrective pullback. Support is at 1.2900 and extends to the 1.2860 recent lows. A close beneath here would turn sentiment negative and open up a test of congestion around 1.2800.