Published: 2024-11-28T08:26:13.000Z
Chart GBP/USD Update: Sharp gains not sustained
Senior Technical Strategist
3
Anticipated tests higher have extended to reach 1.2692
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.2800 | ** | break level | S1 | 1.2650 | congestion | ||
| R3 | 1.2768 | 13 Nov high | S2 | 1.2600 | * | congestion | ||
| R2 | 1.2700/20 | break area | S3 | 1.2500 | ** | congestion | ||
| R1 | 1.2692 | 27 Nov high | S4 | 1.2487 | ** | 22 Nov (w) low |
Asterisk denotes strength of level
08:05 GMT - Anticipated tests higher have extended to reach 1.2692, where unwinding overbought intraday studies are prompting a pullback to congestion around 1.2650. A break beneath here will open up further congestion around 1.2600, but rising daily stochastics and the improving daily Tension Indicator are expected to limit any tests in fresh buying interest/consolidation. Meanwhile, resistance remains at the 1.2700/20 break area. A close above here is needed to turn sentiment positive and confirm continuation of late-November gains, initially to the 1.2768 high of 13 November.