Chart GBP/USD Update: Turning higher towards 1.3273/1.3300 resistance
Higher in choppy trade with bounce at the 1.3200 level returning focus to strong resistance at the 1.3273/1.3300 area
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3450 | * | congestion | S1 | 1.3200 | * | congestion | |
| R3 | 1.3400 | ** | congestion | S2 | 1.3180 | ** | 1 Oct low | |
| R2 | 1.3350 | * | congestion | S3 | 1.3140 | ** | 24 Jun YTD low | |
| R1 | 1.3273/00 | ** | 28 Jul low, congestion | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
02:00 GMT - Higher in choppy trade with bounce at the 1.3200 level returning focus to strong resistance at the 1.3273/1.3300 area. Daily studies are tracking higher from oversold areas and suggest scope for break here to confirm a base pattern at the 1.320/1.3180 lows. Higher will open up room for stronger recovery to retrace losses from the 1.3675 August high and see room to the 1.3350 congestion and 1.3400 level. Support at 1.3200/1.3180 lows should underpin. Break here, if seen, will expose the 1.3140 June current year low to retest and see room to extend the broader losses from 1.3869, January high.