Published: 2025-11-11T08:27:24.000Z
Chart GBP/USD Update: Lower in range
2
Anticipated minor gains have met selling interest beneath congestion resistance at 1.3200
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3471 | ** | 17 Oct (w) high | S1 | 1.3100 | * | break level | |
| R3 | 1.3400 | ** | break level | S2 | 1.3000 | * | congestion | |
| R2 | 1.3250 | * | congestion | S3 | 1.2950 | ** | 50% ret of Jan-Jul rally | |
| R1 | 1.3200 | * | congestion | S4 | 1.2900 | congestion |
Asterisk denotes strength of level
08:10 GMT - Anticipated minor gains have met selling interest beneath congestion resistance at 1.3200, as overbought intraday studies unwind, with prices currently trading around 1.3125. Immediate focus is on support at the 1.3100 break level. But rising daily readings are expected to limit any initial tests in consolidation, before negative weekly charts prompt a break. A close beneath here will add weight to sentiment and give way to a break down to stronger support at 1.3000. Meanwhile, a break above 1.3200, if seen, should be limited in renewed selling interest beneath further congestion around 1.3250.