Chart GBP/USD Update: Consolidating test of 1.3200/15 - studies under pressure
Anticipated selling interest has posted a fresh 2026 year low within strong support at congestion around 1.3200 and the 1.3215 Fibonacci retracement
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3485 | * | 38.2% ret of Jan-Mar fall | S1 | 1.3215 | ** | 76.4% ret of Nov-Jan rally | |
| R3 | 1.3450 | ** | congestion | S2 | 1.3200 | ** | congestion | |
| R2 | 1.3400 | ** | congestion | S3 | 1.3150 | congestion | ||
| R1 | 1.3300 | * | congestion | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
08:10 GMT - Anticipated selling interest has posted a fresh 2026 year low within strong support at congestion around 1.3200 and the 1.3215 Fibonacci retracement, before settling into consolidation as oversold intraday studies unwind. Daily readings continue to fall and broader weekly charts are under pressure, highlighting room for further losses in the coming sessions. A close beneath 1.3200/15 will add weight to sentiment and extend late-January losses towards further congestion around 1.3150. Meanwhile, resistance remains at congestion around 1.3300. A close back above here, if seen, would help to stabilise price action and give way to fresh consolidation beneath further congestion around 1.3400.