Published: 2025-09-09T02:03:20.000Z
Chart GBP/USD Update: Extending gains
Technical Analyst
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Consolidation below resistance at the 1.3550 congestion has given way to break to extend bounce from the 1.3333 low of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | * | 1 Jul YTD high | S1 | 1.3500 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3450/00 | * | congestion | |
| R2 | 1.3680 | 4 Jul high | S3 | 1.3370 | ** | Jun, 16 Jul lows | ||
| R1 | 1.3595/00 | ** | Aug high, congestion | S4 | 1.3300 | * | congestion |
Asterisk denotes strength of level
02:00 GMT - Consolidation below resistance at the 1.3550 congestion has given way to break to extend bounce from the 1.3333 low of last week. Focus now turn to the 1.3595 high of August and the 1.3600 level. Positive daily and weekly studies suggest scope for break to extend gains from the 1.3140, August swing low. Clearance will see room for extension to the 1.3700 level but potential will be seen for retest of the 1.3788, 1 July YTD high. Meanwhile, support is raised to the 1.3500 congestion which should underpin and sustain bounce from the 1.3333 low.