Published: 2025-01-13T02:12:59.000Z
Chart GBP/USD Update: Extending losses
Technical Analyst
5
Prices remains under pressure and break to fresh low see prices weighing on the 1.2200/1.2187 support
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2500 | * | congestion | S1 | 1.2187 | * | 10 Nov 2023 low | |
| R3 | 1.2450 | * | congestion | S2 | 1.2100 | * | congestion | |
| R2 | 1.2352 | * | 2 Jan low | S3 | 1.2069 | * | 26 Oct 2023 low | |
| R1 | 1.2300 | ** | Apr 2024 year low | S4 | 1.2037 | ** | 4 Oct 2023 low |
Asterisk denotes strength of level
02:00 GMT - Prices remains under pressure and break to fresh low see prices weighing on the 1.2200/1.2187 support. Consolidation here see prices unwinding the oversold intraday studies but focus stays firmly on the downside and break here will open up room to support at the 1.2100/1.2069 area. Lower still will see scope to the 1.2037, October 2023 low. Meanwhile, resistance is lowered to the 2024 year low at the 1.2300 level. Would need to regain this will open up room for stronger corrective bounce to resistance at the 1.2352/1.2400 area.