Published: 2025-10-17T01:41:15.000Z
Chart GBP/USD Update: Extending gains
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Break above the 1.3400 congestion see prices extending gains from the 1.3248 Tuesday low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | ** | Aug high, congestion | S1 | 1.3400 | * | congestion | |
| R3 | 1.3582 | * | 61.8% Sep/Oct fall | S2 | 1.3324 | * | Sep low | |
| R2 | 1.3500/18 | * | congestion, 50% | S3 | 1.3300 | * | congestion | |
| R1 | 1.3455 | * | 38.2% Sep/Oct fall | S4 | 1.3248 | ** | 14 Oct low |
Asterisk denotes strength of level
01:40 GMT - Break above the 1.3400 congestion see prices extending gains from the 1.3248 Tuesday low to retrace the September/October losses to reach 1.3455, 38.2% Fibonacci level. Daily studies are tracking higher and suggest scope for break to open up room for extension to the 1.3500/18, congestion and 50% Fibonacci level. However, gains are seen corrective and expected to give way to renewed selling pressure later. Meanwhile, support is raised to the 1.3400 level and below here will expose the 1.3300 congestion and 1.3248 low to retest.