Published: 2026-05-15T02:01:44.000Z
Chart GBP/USD Update: Extending sharp losses
3
Sharply lower to extend breakdown from the 1.3450 support to open up room for extension to 1.3350 congestion
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | * | congestion | S1 | 1.3350 | * | congestion | |
| R3 | 1.3550 | * | congestion | S2 | 1.3300 | * | congestion | |
| R2 | 1.3500 | ** | 12 May low, congestion | S3 | 1.3200 | ** | congestion | |
| R1 | 1.3450 | ** | congestion | S4 | 1.3160 | ** | 31 Mar YTD low |
Asterisk denotes strength of level
01:50 GMT - Sharply lower to extend breakdown from the 1.3450 support with follow-through below 1.3400 level opening up room for extension to 1.3350 congestion. Negative daily and weekly studies threatens further losses ahead to retrace the March/May rally and lower will see scope to the 1.3300 level. Meanwhile, resistance is lowered to the 1.3450/1.3500 congestion area which is expected to cap. Would need to regain this to fade the downside pressure and return focus to the 1.3600/50 April/1 May highs.