Published: 2025-11-28T01:42:28.000Z
Chart GBP/USD Update: Consolidating, room for higher later
1
Still shy of the 1.3300 level as prices consolidate bounce from the 1.3038 low of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3470 | * | 17 Oct high | S1 | 1.3200 | * | congestion | |
| R3 | 1.3400 | * | congestion | S2 | 1.3100 | * | congestion | |
| R2 | 1.3370 | * | 28 Oct high | S3 | 1.3038 | * | 20 Nov low | |
| R1 | 1.3300/23 | ** | congestion, Sep low | S4 | 1.3010 | ** | 4 Nov low |
Asterisk denotes strength of level
01:30 GMT - Still shy of the 1.3300 level as prices consolidate bounce from the 1.3038 low of last week. This is expected to give way to renewed buying interest later to retrace the September/November losses towards strong resistance at 1.3300/23, congestion and September low. Would expect reaction here but a later break cannot be ruled out. Higher will see potential to resistance at 1.3370/1.3400 area. Meanwhile, support at the 1.3200 level should underpin and sustain bounce from the 1.3038/1.3010, November lows.