Published: 2025-06-03T02:10:10.000Z
Chart GBP/USD Update: Scope to retest 1.3593, May YTD high
Technical Analyst
1
Consolidation above the 1.3435/1.3400 support to break the 1.3500 level return focus to the 1.3593, 26 May YTD high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3750 | ** | Jan 2022 year high | S1 | 1.3500 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3435 | ** | Sep 2024 year high | |
| R2 | 1.3645 | * | Feb 2022 high | S3 | 1.3400 | * | congestion | |
| R1 | 1.3593 | ** | 26 May YTD high | S4 | 1.3360 | * | 14 May high |
Asterisk denotes strength of levelr
01:50 GMT - Consolidation above the 1.3435/1.3400 support to break the 1.3500 level return focus to the 1.3593, 26 May YTD high. However, daily studies remains mixed and suggest consolidation below the latter likely before scope for break to extend the underlying bull trend from September 2022 low and further retrace the steep 2021/2022 losses. Higher will see room to the February 2022 high at 1.3645. Meanwhile, support is raised to the 1.3500 level. Below this will leave the way open for further consolidation to strong support at the 1.3435/1.3400 area.