Published: 2026-10-19T02:08:05.000Z
Chart GBP/USD Update: Consolidating, room for further gains later
1
Settled back in consolidation following rally to 1.3370 high last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3475 | ** | 2 Sep low | S1 | 1.3300 | * | congestion | |
| R3 | 1.3450 | * | congestion | S2 | 1.3273 | * | 28 Jul low | |
| R2 | 1.3400 | ** | congestion | S3 | 1.3200 | * | congestion | |
| R1 | 1.3350 | * | congestion | S4 | 1.3180 | ** | 1 Oct low, congestion |
Asterisk denotes strength of level
02:00 GMT - Settled back in consolidation following rally to 1.3370 high last week. Daily studies continues to track higher from oversold areas and suggest consolidation giving way to further gains later to retrace losses from the 1.3675m August high. Break above resistance at the 1.3350 congestion will see room to the 1.3400 level. Higher still, will open up room to strong resistance at the 1.3450/1.3475 area. Meanwhile, support is raised to the 1.3300/1.3273 congestion and 28 July low which should underpin. Failure here will fade the upside pressure and see room for pullback to 1.3200/1.3180 support.