Published: 2026-03-16T02:12:39.000Z
Chart GBP/USD Update: Consolidating, room for lower later
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Edged up in consolidation from Friday's fresh year low at 1.3220 as prices unwind oversold intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3435 | ** | 19 Feb low | S1 | 1.3215 | * | 76.4% Nov/Jan rally | |
| R3 | 1.3400 | * | congestion | S2 | 1.3200 | * | congestion | |
| R2 | 1.3350 | * | congestion | S3 | 1.3150 | * | congesion | |
| R1 | 1.3300 | * | congestion | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
02:00 GMT - Edged up in consolidation from Friday's fresh year low at 1.3220 as prices unwind oversold intraday studies. However, pressure remains on the downside with daily and weekly still tracking lower and see risk for break here and 1.3215 Fibonacci level to extend losses from the January high. Lower still, will see room to 1.3150/1.3100 congestion. Meanwhile, resistance is lowered to the 1.3300 congestion. Regaining this will delay bear extension and see room for stronger bounce to resistance at the 1.3350/1.3400 area.