Published: 2026-01-07T01:34:07.000Z
Chart GBP/USD Update: Settled back in consolidation
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No follow-through on break above the 1.3555 Fibonacci level as prices settled back in consolidation to unwind overbought intraday studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | ** | Jul 2025 year high | S1 | 1.3450 | * | congestion | |
| R3 | 1.3726 | ** | Sep high | S2 | 1.3400 | ** | 31 Dec low | |
| R2 | 1.3600 | * | congestion | S3 | 1.3300 | * | congestion | |
| R1 | 1.3555 | * | 76.4% Sep/Nov fall | S4 | 1.3215/00 | ** | 13 Nov high, congestion |
Asterisk denotes strength of level
01:30 GMT - No follow-through on break above the 1.3555 Fibonacci level as prices settled back in consolidation to unwind overbought intraday studies. Positive daily and weekly studies suggest consolidation giving way to renewed buying interest later. Higher will see room to target the 1.3600 level. Beyond this will return focus to the September high at 1.3726 then 1.3788, July 2025 year high. Meanwhile, support is raised to the 1.3450 congestion and this extend to the 1.3400 level. This area now expected to underpin and sustain gains from the 1.3010 low.