Chart GBP/USD Update: Cautious trade
Little change, as prices extend cautious trade above strong support at 1.3200
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3400 | ** | congestion | S1 | 1.3200 | ** | cong, 38.2% ret | |
| R3 | 1.3360 | * | range lows | S2 | 1.3140 | ** | 24 Jun YTD low | |
| R2 | 1.3300 | ** | congestion | S3 | 1.3100 | ** | congestion | |
| R1 | 1.3273 | ** | 28 Jul (w) low | S4 | 1.3000/10 | ** | cong; November 2025 low |
Asterisk denotes strength of level
08:10 BST - Little change, as prices extend cautious trade above strong support at 1.3200. Intraday studies are edging higher, unwinding oversold areas, and daily readings are mixed/positive suggesting room for a minor test higher. But negative weekly charts should limit scope in renewed selling interest/consolidation beneath resistance resistance within the 1.3273 weekly low of 28 July and congestion around 1.3300. A close above 1.3300, if seen, would help to improve sentiment and complete an accumulation base above strong support at 1.3200, as October gains then target 1.3360.
Meanwhile, support remains strong at 1.3200. A close beneath here, not yet seen, will add weight to sentiment and extend late-August losses towards strong support at the 1.3140 current year low of 24 June.