Published: 2026-01-21T01:53:12.000Z
Chart GBP/USD Update: Consolidating below 1.3500, scope for break later
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Settled back in consolidation below resistance at the 1.3500 congestion
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3725 | ** | Sep high | S1 | 1.3400 | * | congestion | |
| R3 | 1.3600/50 | * | congestion | S2 | 1.3340 | ** | 19 Jan low | |
| R2 | 1.3568 | ** | 6 Jan YTD high | S3 | 1.3300 | * | congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3275/50 | * | congestion |
Asterisk denotes strength of level
01:45 GMT - Settled back in consolidation below resistance at the 1.3500 congestion as prices unwind overbought intraday studies following strong gains from the 1.3340 Monday's low. Positive daily studies suggest this giving way to renewed buying pressure later and clearing the 1.3500 level will open up room for retest of the 1.3568 high then the 1.3600/50 congestion. Meanwhile, support is raised to 1.3400 level which should now underpin and sustain gains from the 1.3340 low. Only failure here will see room for deeper pullback to support at the 1.3300 congestion and the 1.3275/50 area.