Chart GBP/USD Update: Pressuring 2024 year highs
Renewed buying interest has posted a fresh 2025 year high just below the 1.3435 year high of 26 September 2024
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3640/50~ | * | Feb 2022 high; congestion | S1 | 1.3300 | range highs | ||
| R3 | 1.3600 | ** | congestion | S2 | 1.3200 | ** | break level | |
| R2 | 1.3500 | ** | congestion | S3 | 1.3100 | minor congestion | ||
| R1 | 1.3435 | ** | 26 Sep 2024 (y) high | S4 | 1.3000 | ** | range highs |
Asterisk denotes strength of level
08:10 BST - Renewed buying interest has posted a fresh 2025 year high just below the 1.3435 year high of 26 September 2024, with prices currently balanced beneath here as intraday studies flatten. Daily readings continue to rise, and broader weekly charts are also positive, pointing to room for a later break above here. A close above 1.3435 will turn sentiment positive and extend broad September 2022 gains initially towards congestion around 1.3500. Beyond here is 1.3600. Meanwhile, support is raised to 1.3300. A close beneath here, if seen, will turn price action positive and give way to consolidation above support at 1.3200.