Published: 2026-11-02T01:35:46.000Z
Chart GBP/USD Update: Consolidating, room for higher later
1
No follow-through on break above the 1.3400 level as prices consolidate strong bounce from the 1.3273 support
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | * | congestion | S1 | 1.3350 | * | congestion | |
| R3 | 1.3475 | ** | 2 Sep low | S2 | 1.3300 | ** | congestion | |
| R2 | 1.3450 | * | congestion | S3 | 1.3273 | * | 28 Jul low | |
| R1 | 1.3400/20 | ** | congestion, 22 Oct high | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
01:30 GMT - No follow-through on break above the 1.3400 level as prices consolidate strong bounce from the 1.3273 support. Positive daily and weekly studies suggest consolidation below the 1.3400 level expected to give way to fresh buying interest later to retrace the August/October losses. Clearance will see room to the 1.3450 congestion then the strong resistance at 1.3475/1.3500 area. Meanwhile, support is raised to the 1.3350 congestion which should underpin and sustain bounce from the 1.3300/1.3273 area.