Published: 2025-11-17T08:31:12.000Z
Chart GBP/USD Update: Further consolidation
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Little change, as prices extend choppy trade within the 1.3100 - 1.3200 range
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3471 | ** | 17 Oct (w) high | S1 | 1.3100 | * | break level | |
| R3 | 1.3400 | ** | break level | S2 | 1.3000/10 | * | cong; 4-5 Nov (w) lows | |
| R2 | 1.3250 | * | congestion | S3 | 1.2950 | ** | 50% ret of Jan-Jul rally | |
| R1 | 1.3200 | * | congestion | S4 | 1.2900 | congestion |
Asterisk denotes strength of level
08:10 GMT - Little change, as prices extend choppy trade within the 1.3100 - 1.3200 range. Intraday studies are under pressure, highlighting room for a move lower towards support at the 1.3100 break level. But rising daily readings and flat oversold weekly stochastics should limit any initial tests in consolidation. The weekly Tension Indicator is falling, however, pointing to room for a later break beneath here towards congestion support at 1.3000 and the 1.3010 weekly lows of 4-5 November. Meanwhile, resistance is at congestion around 1.3200 and extends to 1.3250. This range is expected to cap any immediate tests higher.