Chart GBP/USD Update: Leaning lower from retest of 1.3500
Leaning lower following rejection from the 1.3500 level last Friday and threaten pullback to retest of support at the 1.3400 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3726 | ** | 17 Sep high | S1 | 1.3400 | * | congestion | |
| R3 | 1.3600 | * | congestion | S2 | 1.3300 | * | congestion | |
| R2 | 1.3535 | ** | 24 Dec high | S3 | 1.3250 | * | congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3215/00 | ** | 13 Nov high, congestion |
Asterisk denotes strength of level
01:30 GMT - Leaning lower following rejection from the 1.3500 level last Friday and threaten pullback to retest of support at the 1.3400 level. Daily studies are tracking lower and see risk for break here to retrace strong gains from the 1.3010 November low. Lower will see room to support at the 1.3300/1.3250 congestion. Break here will open up room for deeper corrective pullback to strong support at 1.3215/00 area. Meanwhile, resistance is at the 1.3500 level and and this extend to the 1.3535 December high. Clearance here will extend gains from the 1.3010 November low and see room to the 1.3600 level.