Published: 2026-10-09T01:35:43.000Z
Chart GBP/USD Update: Basing at the 1.3180 low
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Extending choppy trade above the 1.3180 low to trace out a base pattern and unwind oversold daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3450 | * | congestion | S1 | 1.3180 | * | 1 Oct low | |
| R3 | 1.3400 | ** | congestion | S2 | 1.3140 | ** | 24 Jun YTD low | |
| R2 | 1.3350 | * | congestion | S3 | 1.3100 | * | congestion | |
| R1 | 1.3273/00 | * | 28 Jul low, congestion | S4 | 1.3010 | ** | Nov 2025 low |
Asterisk denotes strength of level
01:30 GMT - Extending choppy trade above the 1.3180 low to trace out a base pattern and unwind oversold daily studies. Above the latter see scope for retest of resistance at the 1.3273/1.3300 area and where break will open up room for stronger recovery to retrace losses from the 1.3675 August high. Higher will see room for extension to the 1.3350 congestion and 1.3400 level. Meanwhile, support at the 1.3200/1.3180 area underpin. Failure here will expose the 1.3140 June current year low to retest and threaten extension of losses from the 1.3869, January high.