Published: 2025-12-16T01:39:16.000Z
Chart GBP/USD Update: Extend consolidation below 1.3400 level
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Little change, as prices extend consolidation below the 1.3400 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | ** | congestion | S1 | 1.3300 | * | congestion | |
| R3 | 1.3500/27 | ** | congestion, 1 Oct high | S2 | 1.3215/00 | ** | 13 Nov high, congestion | |
| R2 | 1.3471 | * | 17 Oct high | S3 | 1.3140 | * | Aug low | |
| R1 | 1.3400 | * | congestion | S4 | 1.3100 | * | congestion |
Asterisk denotes strength of level
01:40 GMT - Little change, as prices extend consolidation below the 1.3400 level. Prices are unwind overbought intraday and daily studies and suggest room for pullback to retest the 1.3350/1.3300 area which should underpin. Failure here will open up room for deeper correction to strong support at the 1.3215/00 area. Corrective pullback is expected to give way to further gains later to retrace the September/November losses. Above the 1.3400 level will see room for extension to resistance at 1.3471 then the strong resistance at the 1.3500/27, congestion and October high.