Chart GBP/USD Update: Balanced above fresh year low
Anticipated selling interest has posted a fresh year low at 1.3140
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3350 | break level | S1 | 1.3140 | 24 Jun YTD low | |||
| R3 | 1.3300 | ** | congestion | S2 | 1.3100 | * | congestion | |
| R2 | 1.3250 | intraday break level | S3 | 1.3000/10 | ** | congestion; 4-5 Nov (m) low | ||
| R1 | 1.3200 | ** | congestion | S4 | 1.2985 | ** | 50% ret of 2025-2026 rally |
Asterisk denotes strength of level
08:10 BST - Anticipated selling interest has posted a fresh year low at 1.3140, before turning higher and settling into consolidation around 1.3175 as oversold intraday studies unwind. Immediate focus is on congestion resistance at 1.3200. But negative daily readings and bearish weekly charts should limit any tests in renewed selling interest. Following cautious/corrective trade, fresh losses are looked for. A later break below 1.3140 will open up congestion around 1.3100. A close beneath here will add weight to sentiment and extend January losses towards critical support within the 1.2985 - 1.3000/10 range. Meanwhile, a close above 1.3200, if seen, will help to stabilise sentiment and prompt consolidation beneath 1.3250.