Published: 2025-04-17T01:50:19.000Z
Chart GBP/USD Update: Consolidating below 1.3300/12 resistance
Technical Analyst
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Settling back from approach of the 1.3300/12 resistance as prices unwind the overbought intraday studies
| 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 | 1.3330 | * | 76.4% 2021/2022 fall | S3 | 1.3100 | * | congestion | |
| R1 | 1.3300/12 | ** | congestion, 26 Sep low | S4 | 1.3014/00 | ** | 20 Mar high, congestion |
Asterisk denotes strength of level
02:10 GMT - Settling back from approach of the 1.3300/12 resistance as prices unwind the overbought intraday studies. Daily and weekly studies are stretched as well and suggest scope for some unwinding to retrace the strong rally from 1.2715, low of last week. Pullback see support starting at the 1.3200 congestion. Below this will open up room for deeper correction to the 1.3144/1.3100 congestion. Correction is expected to give way to renewed buying interest later to target the 1.3300/12 resistance. Clearance here will turn focus to the 1.3400 level and 1.3434, September 2024 year high.