Published: 2026-03-23T08:35:26.000Z
Chart GBP/USD Update: Lower in choppy trade
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Consolidation around 1.3400 has given way to a pullback
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | ** | congestion | S1 | 1.3300 | * | congestion | |
| R3 | 1.3465 | * | 38.2% ret of Jan-Mar fall | S2 | 1.3250 | * | recent lows, congestion | |
| R2 | 1.3450 | ** | congestion | S3 | 1.3215 | ** | 76.4% ret of Nov-Jan rally | |
| R1 | 1.3400 | ** | congestion | S4 | 1.3200 | ** | congestion |
Asterisk denotes strength of level
08:10 GMT - Consolidation around 1.3400 has given way to a pullback, as intraday studies turn down, with prices reaching congestion support at 1.3300, where choppy consolidation is developing. A fresh break beneath here towards 1.3250 cannot be ruled out. But rising daily readings should limit any further losses in short-covering/consolidation above strong support at congestion around 1.3200 and the 1.3215 Fibonacci retracement. Meanwhile, resistance is lowered to congestion around 1.3400. Negative weekly charts should limit any tests above here in renewed selling interest beneath congestion at 1.3450 and the 1.3465 Fibonacci retracement.