Chart GBP/USD Update: Range-bound above 1.3180 low
Little change, as prices extend consolidation above the 1.3180 low of last week as prices unwind oversold intraday and 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
01:50 GMT - Little change, as prices extend consolidation above the 1.3180 low of last week as prices unwind oversold intraday and daily studies. Momentum studies have turned flat and suggest further ranging action can be expected for now. Would take lift over the 1.3250 congestion to open up room for stronger bounce to resistance at the 1.3273/1.3300 congestion area. Above the latter will open up room for stronger recovery to retrace losses from the 1.3675 August high to 1.3350/1.3400 congestion area. Meanwhile, support at the 1.3200/1.3180 area should underpin. Failure will expose the 1.3140 June current year low to retest.