Published: 2025-11-06T08:29:26.000Z
Chart GBP/USD Update: Gains to remain limited
1
Cautious trade is giving way to a drift higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3400 | ** | break level | S1 | 1.3000 | * | congestion | |
| R3 | 1.3250 | * | congestion | S2 | 1.2950 | ** | 50% ret of Jan-Jul rally | |
| R2 | 1.3200 | * | congestion | S3 | 1.2900 | congestion | ||
| R1 | 1.3100 | * | break level | S4 | 1.2800 | minor congestion |
Asterisk denotes strength of level
08:10 GMT - Cautious trade is giving way to a drift higher, as intraday studies continue to rise and oversold daily stochastics flatten, with prices edging higher to currently trade around 1.3065. Focus remains on resistance at the 1.3100 break level. But the bearish daily Tension Indicator and negative weekly charts should limit any tests in renewed selling interest. Following cautious trade, fresh losses are looked for. A break below congestion support at 1.3000 will open up strong support at the 1.2950 Fibonacci retracement, where oversold daily stochastics could prompt fresh consolidation.