Published: 2026-11-09T08:32:22.000Z
Chart GBP/USD Update: Smart bounce - gains to remain limited
1
Sharp selling interest has reached support at 1.3350
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3550 | ** | 76.4% ret of Aug-Oct fall | S1 | 1.3350 | break level | ||
| R3 | 1.3500 | ** | congestion | S2 | 1.3300 | ** | congestion | |
| R2 | 1.3470 | ** | 61.8% ret of Aug-Oct fall | S3 | 1.3250 | * | congestion | |
| R1 | 1.3400 | ** | congestion | S4 | 1.3200 | ** | congestion, 38.2% ret |
Asterisk denotes strength of level
08:10 GMT - Sharp selling interest has reached support at 1.3350, where unwinding oversold intraday studies are prompting an equally strong bounce to congestion resistance at 1.3400. A break will open up strong resistance within the 1.3470 Fibonacci retracement and congestion around 1.3500. But negative daily readings should prompt renewed selling interest towards here and limit any initial tests in fresh consolidation.
Meanwhile, rising weekly charts should limit any unexpected break below 1.3350 in consolidation above congestion support at 1.3300.