Published: 2025-05-21T01:23:32.000Z
Chart GBP/USD Update: Pressuring 1.3400, break in focus
Technical Analyst
3
Consolidating test of the 1.3400 level but pressure remains on the upside
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3570/00 | ** | congestion | S1 | 1.3360 | * | 14 May high | |
| R3 | 1.3500 | * | congestion | S2 | 1.3300 | * | congestion | |
| R2 | 1.3444 | ** | 28 Apr YTD high | S3 | 1.3250 | * | congestion | |
| R1 | 1.3435 | ** | Sep 2024 year high | S4 | 1.3200 | congestion |
Asterisk denotes strength of level
01:15 GMT - Consolidating test of the 1.3400 level but pressure remains on the upside and break here will see room to retest 1.3435/44, the 2024 year high and 28 April YTD high. Reaction here can be expected though the positive daily studies suggest scope for break here extend the broader gains from 2022 year low. Meanwhile, support is raised to the previous high at 1.3360 and this extend to the 1.3300 congestion, which is expected to underpin. Failure here will fade the upside pressure and see room for consolidation to the 1.3250/1.3200 congestion.