Published: 2026-05-12T07:28:44.000Z
Chart GBP/USD Update: Leaning lower
2
Choppy trade has been pushed back from congestion resistance at 1.3660
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3733 | * | 4 Feb (m) high | S1 | 1.3550 | * | congestion | |
| R3 | 1.3700 | ** | 76.4% ret of Jan-Mar fall | S2 | 1.3500 | ** | congestion | |
| R2 | 1.3660 | * | congestion | S3 | 1.3470 | * | 38.2% ret of Mar-May rally | |
| R1 | 1.3600 | * | congestion | S4 | 1.3450 | break level |
Asterisk denotes strength of level
08:10 BST - Choppy trade has been pushed back from congestion resistance at 1.3660, as intraday studies turn down, with steady selling interest currently trading just below congestion support at 1.3550. Daily readings are under pressure, highlighting room for a test of further congestion around 1.3500. But rising weekly charts should limit any deeper losses in consolidation above the 1.3470 Fibonacci retracement. Meanwhile, any immediate retests above 1.3600 should meet fresh selling interest towards 1.3660.