Published: 2026-05-27T06:54:31.000Z
Chart GBP/USD Update: Room for lower
1
The pullback from congestion resistance at 1.3500 has reached support at 1.3450
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3657 | ** | 1 May (w) high | S1 | 1.3450 | break level | ||
| R3 | 1.3600 | * | congestion | S2 | 1.3400 | ** | congestion | |
| R2 | 1.3550 | * | congestion | S3 | 1.3300 | ** | congestion | |
| R1 | 1.3500 | ** | congestion | S4 | 1.3275 | ** | 76.4% ret of Mar-May rally |
Asterisk denotes strength of level
07:40 BST - The pullback from congestion resistance at 1.3500 has reached support at 1.3450. Rising daily readings highlight potential for fresh consolidation, before negative weekly charts prompt renewed selling interest. A later close beneath here will open up congestion around 1.3400, with a close beneath here adding weight to sentiment and opening up a test of further congestion around 1.3300 and the 1.3275 Fibonacci retracement. Meanwhile, any tests above 1.3500 should meet fresh selling interest towards congestion around 1.3550.