Published: 2025-03-13T02:11:50.000Z
Chart GBP/USD Update: Just shy of the 1.3000 figure
Technical Analyst
1
Pressure remains on the upside with gains reaching fresh high just below the 1.3000 figure
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3142 | * | 2023 year high | S1 | 1.2860 | * | 10 Mar low | |
| R3 | 1.3120 | * | 76.4% Sep/Jan fall | S2 | 1.2800 | * | 4 Mar high, congestion | |
| R2 | 1.3045 | * | congestion, Nov high | S3 | 1.2750 | * | congestion | |
| R1 | 1.3000 | ** | congestion | S4 | 1.2715 | ** | Feb high |
Asterisk denotes strength of level
02:10 GMT - Pressure remains on the upside with gains reaching fresh high just below the 1.3000 figure though the overbought intraday and daily studies fades the bullish momentum from the 28 February low. Above the 1.3000 level will open up room for extension to 1.3045 congestion then the 1.3120/42, 76.4% Fibonacci level and 2023 year high. Meanwhile, support is raised to the 1.2860 Monday's low which now underpin. Would take break here to open up room for deeper corrective pullback to the 1.2800 congestion and strong support at 1.2715 , February high.