Published: 2025-12-10T08:26:34.000Z
Chart GBP/USD Update: Cautious trade - limited tests lower
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Still little change, as prices extend consolidation above congestion support at 1.3300
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3450 | ** | 61.8% ret of Sep-Nov fall | S1 | 1.3300 | * | congestion | |
| R3 | 1.3400 | ** | congestion | S2 | 1.3250 | * | congestion | |
| R2 | 1.3385 | * | 4 Dec (w) high | S3 | 1.3200 | * | congestion | |
| R1 | 1.3365 | ** | 50% ret of Sep-Nov fall | S4 | 1.3150 | * | congestion |
Asterisk denotes strength of level
08:10 GMT - Still little change, as prices extend consolidation above congestion support at 1.3300. Oversold intraday studies are unwinding, suggesting potential for a bounce. But overbought daily stochastics are unwinding and the positive daily Tension Indicator is turning down, suggesting renewed selling interest towards strong resistance at the 1.3365 Fibonacci retracement. In the coming sessions, a test lower is looked for. A break below 1.3300 will open up further congestion around 1.3250. But rising weekly charts should prompt renewed buying interest/consolidation towards here.