Published: 2025-10-16T01:55:26.000Z
Chart GBP/USD Update: Extending gains
2
Consolidation above the 1.3300 level has given way to break of the 1.3370/1.3400 area to extend bounce from 1.3248, Tuesday low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | ** | Aug high, congestion | S1 | 1.3400 | * | congestion | |
| R3 | 1.3527 | * | 1 Oct high | S2 | 1.3300 | * | congestion | |
| R2 | 1.3500 | * | congestion | S3 | 1.3248 | ** | 14 Oct low | |
| R1 | 1.3444 | * | Apr high | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
01:50 GMT - Consolidation above the 1.3300 level has given way to break of the 1.3370/1.3400 area to extend bounce from 1.3248, Tuesday low. Prices are unwinding oversold intraday and daily studies and break above the 1.3400 level see room for stronger gains to resistance at 1.3444 high of April then the 1.3500/27 area. Gains are seen corrective of losses from the September high and expected to give way to renewed selling pressure later. Meanwhile, support is raised to the 1.3400 level. Below here will expose the 1.3300 congestion and 1.3248 low to retest.