Published: 2026-10-21T01:52:24.000Z
Chart GBP/USD Update: Consolidating, room for higher later
1
Settled back from test of the 1.3400 level as prices consolidate strong gains from the 1.3137 current year low of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | * | congestion | S1 | 1.3350 | * | congestion | |
| R3 | 1.3475 | ** | 2 Sep low | S2 | 1.3300 | ** | congestion | |
| R2 | 1.3450 | * | congestion | S3 | 1.3273 | * | 28 Jul low | |
| R1 | 1.3400 | ** | congestion | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
01:50 GMT - Settled back from test of the 1.3400 level as prices consolidate strong gains from the 1.3137 current year low of last week. Daily studies continues to track higher and suggest consolidation giving way to further gains later to retrace losses from the 1.3675, August high. Higher will open up room to the strong resistance at the 1.3450/1.3475 area. Meanwhile, support is raised to the 1.3350 congestion which should underpin. Below here will ease the upside pressure and see room for deeper pullback to strong support at the 1.3300/1.3273 congestion and 28 July low.