Published: 2026-10-02T07:28:19.000Z
Chart GBP/USD Update: Consolidating test of strong support at 1.3200 - background under pressure
1
The anticipated test of strong support at 1.3200 has extended to 1.3180
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3400 | ** | congestion | S1 | 1.3200 | ** | cong, 38.2% ret | |
| R3 | 1.3360 | * | range lows | S2 | 1.3140 | ** | 24 Jun YTD low | |
| R2 | 1.3300 | ** | congestion | S3 | 1.3100 | ** | congestion | |
| R1 | 1.3273 | ** | 28 Jul (w) low | S4 | 1.3000/10 | ** | cong; November 2025 low |
Asterisk denotes strength of level
08:10 BST - The anticipated test of strong support at 1.3200 has extended to 1.3180, before bouncing back above 1.3200 as oversold intraday studies unwind. Daily readings are mixed/positive, suggesting room for continuation higher. But negative weekly charts should limit gains in range extension beneath resistance at the 1.3273 weekly low of 28 July.
Following cautious trade, fresh losses are looked for. However, a close below the 1.3140 current year low of 24 June will turn sentiment negative and confirm continuation of broad January losses, initially towards congestion around 1.3100.