|R1||1.2877||November 7 high||S1||1.2800||*||Congestion base|
|R2||1.2916||November 5 high||S2||1.2792||November 7 low|
|R3||1.3046||**||76.4% from March||S3||1.2750||Break level|
|R4||1.3143||**||50% from 2018||S4||1.2703||**||200-day moving average|
Asterisk denotes strength of level
13:25 GMT - GBP/USD is now taking some time to consolidate the week's downside at the 1.2800 level. We are not seeing any solid signs that a new bottom has formed, so for now, we are sticking with a short-term bearish view. If the pair ends the week below 1.2800, we will turn our attention to the 200-day moving average at 1.2703 during the week ahead. Resistance is at 1.2877 to 1.2916.