Published: 2025-03-19T01:48:59.000Z
Chart GBP/USD Update: Consolidating test of 1.3000
Technical Analyst
1
Consolidating test of the 1.3000 level but pressure remains on the upside
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3142 | ** | 2023 year high | S1 | 1.2900 | * | congestion | |
| R3 | 1.3100 | * | congestion | S2 | 1.2860 | ** | 10 Mar low | |
| R2 | 1.3045 | * | congestion, Nov high | S3 | 1.2800 | * | 4 Mar high, congestion | |
| R1 | 1.3000 | ** | congestion | S4 | 1.2715 | ** | Feb high |
Asterisk denotes strength of level
01:45 GMT - Consolidating test of the 1.3000 level but pressure remains on the upside though the overbought daily and weekly studies remains overbought and suggest consolidation here likely to extend. Break here, if seen, will further retrace the September/January losses and see room to 1.3045 congestion then the 1.3100/42, congestion and 2023 year high. Meanwhile, support is raised to the 1.2900 congestion and extend to the 1.2860, 10 March low. Break here will open up room for deeper pullback to correct strong run-up from the 1.2560, 28 February low.