Published: 2026-05-06T07:37:45.000Z
Chart GBP/USD Update: Higher in range
1
Cautious trade around 1.3550 has given way to a push higher
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3733 | * | 4 Feb (m) high | S1 | 1.3550 | * | congestion | |
| R3 | 1.3700 | ** | 76.4% ret of Jan-Mar fall | S2 | 1.3500 | ** | congestion | |
| R2 | 1.3660 | * | congestion | S3 | 1.3450 | break level | ||
| R1 | 1.3600 | ** | congestion; 61.8% ret | S4 | 1.3430 | * | 38.2% ret of Mar-Apr rally |
Asterisk denotes strength of level
08:10 BST - Cautious trade around 1.3550 has given way to a push higher, as intraday studies turn up, with prices approaching strong resistance at 1.3600. A test above here cannot be ruled out. But mixed daily readings should limit initial scope in fresh consolidation beneath congestion resistance at 1.3660, before rising weekly charts extend gains towards resistance at the 1.3700 Fibonacci retracement. Meanwhile, support is raised to congestion around 1.3550. Any immediate tests beneath here should be limited in consolidation above further congestion around 1.3500.