Published: 2025-12-12T01:39:49.000Z
Chart GBP/USD Update: Extending the November gains
2
No follow-through on break of the 1.3400 level but pressure remains on the upside
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | ** | congestion | S1 | 1.3350/00 | * | congestion | |
| R3 | 1.3500/27 | ** | congestion, 1 Oct high | S2 | 1.3215/00 | ** | 13 Nov high, congestion | |
| R2 | 1.3471 | * | 17 Oct high | S3 | 1.3140 | * | Aug low | |
| R1 | 1.3400 | * | congestion | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
01:40 GMT - No follow-through on break of the 1.3400 level but pressure remains on the upside and see scope for break to extend the November gains. Positive prices action suggest scope for break here further retrace the September/November losses. Clearance will see room for extension to the 1.3471 resistance then the strong resistance at the 1.3500/27, congestion and October high. Meanwhile, support is raised to the 1.3350/1.3300 area which should underpin and sustains gains from the 1.3038/10, November lows.