Published: 2026-01-22T08:31:03.000Z
Chart GBP/USD Update: Consolidating - studies under pressure
1
Still little change
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | ** | congestion | S1 | 1.3400 | * | congestion | |
| R3 | 1.3555 | ** | 76.4% ret of Sep-Nov fall | S2 | 1.3350 | * | congestion lows | |
| R2 | 1.3500 | * | congestion | S3 | 1.3300 | * | congestion | |
| R1 | 1.3450 | congestion | S4 | 1.3200 | ** | congestion |
Asterisk denotes strength of level
08:10 GMT - Still little change, as prices extend consolidation beneath congestion around 1.3450. Rising daily stochastics are flattening and the flat daily Tension Indicator is coming under early pressure, suggesting potential for a pullback towards congestion support at 1.3400. Broader weekly charts are also coming under pressure, highlighting room for a break. But a close below the 1.3350 congestion lows is needed to turn sentiment negative and confirm continuation of January losses, initially to congestion support at 1.3300. Meanwhile, a close above 1.3450, if seen, will help to stabilise price action and prompt consolidation beneath further congestion around 1.3500.