Published: 2025-12-17T02:06:04.000Z
Chart GBP/USD Update: Extending November gains
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Consolidation below the 1.3400 level has given way to break to extend gains from the 1.3010, November low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3726 | ** | Sep high | S1 | 1.3400 | * | congestion | |
| R3 | 1.3600 | * | congestion | S2 | 1.3300 | * | congestion | |
| R2 | 1.3500/27 | ** | congestion, 1 Oct high | S3 | 1.3215/00 | ** | 13 Nov high, congestion | |
| R1 | 1.3471 | * | 17 Oct high | S4 | 1.3140 | * | Aug low |
Asterisk denotes strength of level
02:00 GMT - Consolidation below the 1.3400 level has given way to break to extend gains from the 1.3010, November low. Bullish momentum from the latter keeps pressure on the upside and suggest room for further gains to nearby resistance at 1.3471. Clearance here will see room for extension to strong resistance at the 1.3500/27 congestion and 1st October high where reaction can be expected. A later clearance will see room to the 1.3600 level. Meanwhile, support is raised to the 1.3400/1.3342 congestion and 12 December low which should underpin and sustain gains from the 1.3038/1.3010, November lows.