Published: 2026-01-28T02:10:10.000Z
Chart GBP/USD Update: Still scope to extend gains
1
Rally to break the 1.3700 level saw follow-through above the 1.3788 2025 year high to reach fresh high at 1.3869
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.4100 | ** | congestion | S1 | 1.3788 | * | Jul 2025 year high | |
| R3 | 1.4000 | ** | congestion | S2 | 1.3700 | * | congestion | |
| R2 | 1.3900/10 | * | congestion, Sep 2021 high | S3 | 1.3645 | * | 23 Jan high, gap | |
| R1 | 1.3869 | * | 27 Jan YTD high | S4 | 1.3600 | * | congestion |
Asterisk denotes strength of level
02:00 GMT - Rally to break the 1.3700 level saw follow-through above the 1.3788 2025 year high to reach fresh high at 1.3869. Prices has since settled back to consolidate strong rally from the 1.3340 low of last week. However, positive daily and weekly studies keeps pressure on the upside and further gains cannot be ruled out to extend the broader gains from 2022 year low. Higher will see room to 1.3900/10, September 2021 high. Meanwhile, support is raised to the 1.3788, 2025 year high, and extending to the 1.3700 congestion which should now underpin.