Published: 2025-06-04T01:53:25.000Z
Chart GBP/USD Update: Focus remain on 1.3593, May YTD high
Technical Analyst
1
Settled into consolidation below the 1.3559 high but potential remains for extension to retest the 1.3593, 26 May YTD high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3750 | ** | Jan 2022 year high | S1 | 1.3500 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3435 | ** | Sep 2024 year high | |
| R2 | 1.3645 | * | Feb 2022 high | S3 | 1.3400 | * | congestion | |
| R1 | 1.3593 | ** | 26 May YTD high | S4 | 1.3360 | * | 14 May high |
Asterisk denotes strength of levelr
01:50 GMT - Settled into consolidation below the 1.3559 high but potential remains for extension to retest the 1.3593, 26 May YTD high. Clearance here will extend the underlying bull trend from September 2022 low and see continuation higher to retrace the steep 2021/2022 losses. Higher will see room to the February 2022 high at 1.3645. Meanwhile, support is raised to the 1.3500 level. Below this will open up room for further consolidation to strong support at the 1.3435/1.3400 area which is expected to underpin and sustain gains from the 1.3140, May low.