Published: 2026-02-26T02:00:41.000Z
Chart GBP/USD Update: Extending gains
1
Consolidation at the 1.3500 level has given way to break above 1.3535 resistance
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | ** | Jul 2025 yr high | S1 | 1.3500 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3440 | ** | 50% Nov/Jan rally | |
| R2 | 1.3650 | * | congestion | S3 | 1.3400 | * | congestion | |
| R1 | 1.3600/20 | ** | congestion | S4 | 1.3340 | ** | 19 Jan YTD low, 61.8% |
Asterisk denotes strength of level
01:50 GMT - Consolidation at the 1.3500 level has given way to break above 1.3535 resistance to extend gains from the 1.3440/35 Fibonacci level and 200-day MA. Daily studies have turned positive and suggest room for stronger gains to retrace the 2-week losses from the 1.3700 level. Clearance will see room to resistance at the 1.3600/20 and 1.3650 congestion. Meanwhile, support is raised to the 1.3500 level which should underpin and sustain bounce from the 1.3440/35 support. Only below here will extend the January losses and open up room to the 1.3400 level and the 1.3340, 19 January YTD low.