Published: 2026-10-29T08:32:22.000Z
Chart GBP/USD Update: Further gains to remain limited
1
Consolidation beneath 1.3300 has given way to a break back above here
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | ** | congestion | S1 | 1.3300 | ** | congestion | |
| R3 | 1.3470 | ** | 61.8% ret of Aug-Oct fall | S2 | 1.3250 | * | congestion | |
| R2 | 1.3400/05 | ** | congestion; 50% ret | S3 | 1.3200 | ** | cong, 38.2% ret | |
| R1 | 1.3350 | break level | S4 | 1.3137/40 | ** | 24 Jun - 14 Oct YTD lows |
Asterisk denotes strength of level
08:10 GMT - Consolidation beneath 1.3300 has given way to a break back above here, as intraday studies turn higher, with prices currently balanced around 1.3315. A test above the 1.3338 high of 28 October cannot be ruled out. But negative daily readings should limit scope in renewed selling interest beneath 1.3350.
Following cautious/corrective trade, fresh losses are looked for. A later break below congestion support at 1.3300 will open up further congestion around 1.3200. However, unwinding oversold weekly stochastics should limit any further losses in renewed buying interest/consolidation above strong support at 1.3200.