Published: 2026-01-19T08:33:53.000Z
Chart GBP/USD Update: Limited gains - studies under pressure
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The anticipated test of congestion support at 1.3350 has bounced smartly
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3555 | ** | 76.4% ret of Sep-Nov fall | S1 | 1.3350 | * | congestion lows | |
| R3 | 1.3500 | * | congestion | S2 | 1.3300 | * | congestion | |
| R2 | 1.3450 | congestion | S3 | 1.3200 | ** | break level | ||
| R1 | 1.3400 | * | congestion | S4 | 1.3150 | congestion |
Asterisk denotes strength of level
08:10 GMT - The anticipated test of congestion support at 1.3350 has bounced smartly, with prices currently pressuring congestion resistance at 1.3400. Intraday studies are rising, highlighting room for a test above here. But negative daily readings and deteriorating weekly charts should limit scope in renewed selling interest beneath further congestion around 1.3450. Following cautious trade, fresh losses are looked for. A break below 1.3350 will add weight to sentiment and open up 1.3300. A further close beneath here will turn sentiment negative and extend January losses towards 1.3200.