Published: 2026-05-18T01:45:32.000Z
Chart GBP/USD Update: Under pressure, 1.3300 at risk
1
Prices remain under pressure and see the 1.3300 level now within reach
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | ** | 12 May low, congestion | S1 | 1.3300 | * | congestion | |
| R3 | 1.3450 | ** | congestion | S2 | 1.3250 | * | congestion | |
| R2 | 1.3400 | * | congestion | S3 | 1.3200 | ** | congestion | |
| R1 | 1.3350 | * | congestion | S4 | 1.3160 | ** | 31 Mar YTD low |
Asterisk denotes strength of level
01:40 GMT - Prices remain under pressure and see the 1.3300 level now within reach as prices extend sharp losses following break of the 1.3450 support last week. Would expect reaction at the 1.3300 level to unwind oversold intraday studies but the negative daily and weekly studies threatens further losses ahead to retrace the March/May rally. Lower will see scope to the 1.3250/00 congestion. Meanwhile, resistance is lowered to the 1.3350/1.3400 congestion area which is expected to cap. Would need to regain this to ease the downside pressure and see room to the 1.3450/1.3500 resistance.