Published: 2026-11-05T02:05:25.000Z
Chart GBP/USD Update: Room to extend gains
1
Break above the 200-day MA at 1.3420 has seen extension to reach strong resistance at the 1.3475/1.3500 area
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | * | congestion | S1 | 1.3400 | * | congestion | |
| R3 | 1.3568 | * | Sep high | S2 | 1.3350 | * | congestion | |
| R2 | 1.3550 | * | congestion | S3 | 1.3300 | ** | congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3273 | * | 28 Jul low |
Asterisk denotes strength of level
02:00 GMT - Break above the 200-day MA at 1.3420 has seen extension to reach strong resistance at the 1.3475/1.3500 area. Consolidation here expected to give way to break later to extend bullish gains from the 1.3140 October low and retrace losses from the 1.3675, August high. Clearance will see scope to 1.3550/68, congestion and September high. Meanwhile, support is raised to the 1.3420/00 high of 22 October and congestion area which should underpin and sustain bounce from the 1.3300/1.3273 congestion and 28 October swing low.