Published: 2026-04-10T02:01:07.000Z
Chart GBP/USD Update: Consolidating, room for further gains
1
Consolidating retest of the 1.3480 March high but pressure remains on the upside
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3575 | 26 Feb high | S1 | 1.3350 | * | congestion | ||
| R3 | 1.3500/10 | ** | congestion, 6 Feb low | S2 | 1.3300 | * | congestion | |
| R2 | 1.3480 | ** | Mar high | S3 | 1.3250 | * | congestion | |
| R1 | 1.3412 | * | 200-day MA | S4 | 1.3210/00 | * | 13 Mar low, congestion |
Asterisk denotes strength of level
02:00 GMT - Consolidating retest of the 1.3480 March high but pressure remains on the upside. Positive daily and weekly studies suggest consolidation giving way to break later to retrace losses from the January high. Higher, will see room to the strong resistance at the 1.3500/10 level and 6 February low. Break here will open up room for stronger gains to 1.3575/1.3600 area. Meanwhile, support is raised to the 1.3400/1.3350 congestion area which should underpin and sustain gains from the 1.3160, 31 March current year low.