Published: 2025-10-14T07:31:04.000Z
Chart GBP/USD Update: Under pressure
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Cautious trade is giving way to anticipated losses
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3500 | * | congestion | S1 | 1.3262 | * | 10 Oct (w) low | |
| R3 | 1.3400 | * | congestion | S2 | 1.3200 | * | congestion | |
| R2 | 1.3370 | 10 Oct high | S3 | 1.3140 | ** | May-Aug lows | ||
| R1 | 1.3300 | * | congestion | S4 | 1.3000 | ** | congestion |
Asterisk denotes strength of level
08:10 BST - Cautious trade is giving way to anticipated losses, with the break below 1.3300 putting focus on the 1.3262 weekly low of 10 October. Daily readings are mixed/negative and broader weekly charts are under pressure once again, highlighting room for a break and continuation of mid-September losses towards further congestion around 1.3200. Beneath here is critical support at the 1.3140 lows from May-August. But already oversold daily stochastics are expected to limit any initial tests in consolidation. Meanwhile, a close back above congestion resistance at 1.3300 would help to stabilise price action and prompt consolidation beneath 1.3400.