Published: 2025-10-31T02:14:20.000Z
Chart GBP/USD Update: Consolidating test of 1.3140 support
4
Follow-through below the 1.3200 level has seen extension to retest the 1.3140, May/August lows
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3471 | ** | 17 Oct high | S1 | 1.3140 | ** | May, Aug lows | |
| R3 | 1.3400 | * | congestion | S2 | 1.3100 | * | congestion | |
| R2 | 1.3300/24 | * | congestion, Sep low | S3 | 1.3050 | * | congestion | |
| R1 | 1.3200/48 | * | congestion, 14 Oct low | S4 | 1.3000 | * | figure, congestion |
Asterisk denotes strength of level
02:10 GMT - Follow-through below the 1.3200 level has seen extension to retest the 1.3140, May/August lows and 38.2% Fibonacci level. Consolidation see prices unwinding the stretched intraday studies but a later break cannot be ruled out. Lower will see room to the 1.3050/1.3000 area. Meanwhile, resistance is lowered to the 1.3248 low of 14 October and extending to the 1.3300 congestion. Would need to regain this to fade the downside pressure and open up room for return to the 1.3400/1.3471 resistance and 1.3500 level.