Published: 2026-01-08T08:31:32.000Z
Chart GBP/USD Update: Leaning lower
4
Cautious trade around 1.3500 is giving way to the anticipated drift lower
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3650 | congestion | S1 | 1.3400 | * | congestion | ||
| R3 | 1.3600 | * | congestion | S2 | 1.3350 | * | congestion lows | |
| R2 | 1.3555 | ** | 76.4% ret of Sep-Nov fall | S3 | 1.3300 | * | congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3200 | ** | break level |
Asterisk denotes strength of level
08:10 GMT - Cautious trade around 1.3500 is giving way to the anticipated drift lower, with steady selling interest currently trading around 1.3440. Negative intraday studies and deteriorating daily readings highlight room for a test of congestion support at 1.3400. But rising weekly charts are expected to limit any initial break in consolidation above 1.3350. Meanwhile, resistance remains at congestion around 1.3500 and should cap any immediate tests higher. However, a close above the 1.3555 Fibonacci retracement would turn sentiment positive and extend November gains initially towards congestion around 1.3600.