Published: 2025-04-16T02:10:48.000Z
Chart GBP/USD Update: Extending gains
Technical Analyst
2
Break above the 1.3207 high has seen extension to fresh high towards the 1.3266 resistance
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3434 | ** | 26 Sep 2024 year high | S1 | 1.3200 | * | congestion | |
| R3 | 1.3400 | * | figure | S2 | 1.3144 | * | 11 Apr high | |
| R2 | 1.3300/12 | ** | congestion, 26 Sep low | S3 | 1.3100 | * | congestion | |
| R1 | 1.3266 | * | Aug high | S4 | 1.3014/00 | ** | 20 Mar high, congestion |
Asterisk denotes strength of level
02:10 GMT - Break above the 1.3207 high has seen extension to fresh high towards the 1.3266 resistance. Clearance here, if seen, will see room to extend gains to the 1.3300/12 resistance. Deep overbought daily studies suggest reaction here likely but consolidation here expected to give way to further gains later. Clearance will turn focus to the 1.3400 level and 1.3434, September 2024 year high. Meanwhile, support is raised to the 1.3200 level which now underpin. Below this will iopen up room for deeper corrective pullback to the 1.3144/1.3100 congestion.