Published: 2025-11-26T02:03:47.000Z
Chart GBP/USD Update: Consolidating, room for higher later
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Consolidating test of the 1.3200/15 resistance as prices unwind overbought intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3370 | * | 28 Oct high | S1 | 1.3100 | * | congestion | |
| R3 | 1.3300/23 | ** | congestion, Sep low | S2 | 1.3038 | * | 20 Nov low | |
| R2 | 1.3248 | * | 14 Oct low | S3 | 1.3010 | ** | 4 Nov low | |
| R1 | 1.3200/15 | ** | congestion, 13 Nov high | S4 | 1.2945 | * | 50% Jan/Jul rally |
Asterisk denotes strength of level
02:00 GMT - Consolidating test of the 1.3200/15 resistance as prices unwind overbought intraday studies following bounce from 1.3038 low of last week. Daily and weekly studies are unwindind oversold readings and suggest scope for break later to extend gains from the 1.3038/1.3010 November higher lows. Clearance will see room strong stronger gains to retrace losses from the September high to resistance at 1.3248 then 1.3300/23 area. Meanwhile, support is raised to the 1.3100 level which should underpin and sustain bounce from the 1.3038/1.3010 lows.