Published: 2026-03-19T08:39:52.000Z
Chart GBP/USD Update: Leaning lower
1
Cautious trade has given way to anticipated selling interest
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | ** | congestion | S1 | 1.3215 | ** | 76.4% ret of Nov-Jan rally | |
| R3 | 1.3450 | ** | congestion | S2 | 1.3200 | ** | congestion | |
| R2 | 1.3400 | ** | congestion | S3 | 1.3150 | congestion | ||
| R1 | 1.3300 | * | congestion | S4 | 1.3100 | congestion |
Asterisk denotes strength of level
08:10 GMT - Cautious trade has given way to anticipated selling interest, with the break below 1.3300 currently balanced above 1.3250. Rising daily readings are flattening and broader weekly charts are bearish, highlighting room for further losses in the coming sessions. Strong support is at congestion around 1.3200 and the 1.3215 Fibonacci retracement. A close beneath here is needed to turn sentiment negative and extend late-January losses towards further congestion around 1.3150. Meanwhile, a close back above congestion resistance at 1.3300 would help to stabilise sentiment and prompt fresh consolidation beneath further congestion around 1.3400.