Published: 2025-03-20T01:51:50.000Z
Chart GBP/USD Update: Consolidating test of 1.3000
Technical Analyst
1
Consolidating test of the 1.3000 level but pressure remains on the upside with prices edging to reach fresh year highs
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3142 | ** | 2023 year high | S1 | 1.2910 | * | 14 Mar low | |
| R3 | 1.3100 | * | congestion | S2 | 1.2860 | ** | 10 Mar low | |
| R2 | 1.3050 | * | congestion, Nov high | S3 | 1.2800 | * | 4 Mar high, congestion | |
| R1 | 1.3000 | ** | congestion | S4 | 1.2715 | ** | Feb high |
Asterisk denotes strength of level
01:45 GMT - Consolidating test of the 1.3000 level but pressure remains on the upside with prices edging to reach fresh year highs. Higher will see room to the 1.3050 congestion though the daily and weekly studies are overbought and caution corrective pullback. However, the downside remains limited with support starting at 1.2910 and extending to the 1.2860, 10 March low. Would take break here to open up room for deeper pullback to correct strong run-up from the 1.2560, 28 February low. Lower will see room to 1.2800 congestion and 1.2715, February high.