Published: 2026-04-09T07:33:38.000Z
Chart GBP/USD Update: Consolidating sharp gains
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Sharp gains have met selling interest just beneath congestion resistance at 1.3500
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3550 | * | congestion | S1 | 1.3350 | congestion | ||
| R3 | 1.3500/15 | ** | congestion; 50% ret | S2 | 1.3300 | * | congestion | |
| R2 | 1.3430 | * | 38.2% ret of Jan-Mar fall | S3 | 1.3200 | * | congestion | |
| R1 | 1.3400 | ** | congestion | S4 | 1.3160 | ** | 31 Mar YTD low |
Asterisk denotes strength of level
08:10 BST - Sharp gains have met selling interest just beneath congestion resistance at 1.3500, as intraday studies turn down, with prices falling sharply into consolidation beneath 1.3400. Further losses cannot be ruled out. But rising daily readings and a tick higher in oversold weekly stochastics should limit scope in renewed buying interest/consolidation towards congestion support at 1.3350. Meanwhile, resistance is at 1.3400 and extends to the 1.3430 Fibonacci retracement. A close above here, not yet seen, would help to improve price action and put focus back on strong resistance at 1.3500 and the 1.3515 retracement.