Published: 2026-05-19T07:35:38.000Z
Chart GBP/USD Update: Consolidating gains - studies under pressure
1
The break above 1.3400 has met selling interest at 1.3450
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3550 | * | congestion | S1 | 1.3300 | ** | congestion | |
| R3 | 1.3500 | ** | congestion | S2 | 1.3275 | ** | 76.4% ret of Mar-May rally | |
| R2 | 1.3450 | break level | S3 | 1.3250 | congestion | |||
| R1 | 1.3400 | ** | congestion | S4 | 1.3200 | ** | congestion |
Asterisk denotes strength of level
08:10 BST - The break above 1.3400 has met selling interest at 1.3450, as overbought intraday studies unwind, with steady losses currently trading just below 1.3400. Oversold daily stochastics are unwinding, suggesting room for consolidation around here. But the daily Tension Indicator remains negative and broader weekly charts are bearish, pointing to room for renewed tests lower. Support remains at congestion around 1.3300 and extends to the 1.3275 Fibonacci retracement. A close beneath here would confirm continuation of May losses and open up 1.3200. Meanwhile, 1.3450 should cap any immediate tests higher.