Published: 2025-10-08T01:50:05.000Z
Chart GBP/USD Update: Under pressure, 1.3400 support at risk
1
Consolidation within the 1.3400/1.3500 area see pressure returning to the downside
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3680/00 | * | 4 Jul high, congestion | S1 | 1.3400 | * | congestion | |
| R3 | 1.3600 | ** | Aug high, congestion | S2 | 1.3324 | ** | 25 Sep low | |
| R2 | 1.3536 | * | 23 Sep high | S3 | 1.3300 | * | congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
01:45 GMT - Consolidation within the 1.3400/1.3500 area see pressure returning to the downside and see scope for break of 1.3400 level to expose the 1.3324 low to retest. Daily and weekly studies are tracking lower and suggest scope for break of the latter to extend the broader losses from the September high. Lower will see room to the 1.3300 and 1.3200 congestion. Meanwhile, resistance at the 1.3500/36 congestion and 23 September high are expected to cap. Only regaining these will fade the downside pressure.