Published: 2025-11-12T08:29:16.000Z
Chart GBP/USD Update: Consolidating
1
The anticipated minor test lower has bounced from above support at the 1.3100 break level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3471 | ** | 17 Oct (w) high | S1 | 1.3100 | * | break level | |
| R3 | 1.3400 | ** | break level | S2 | 1.3000 | * | congestion | |
| R2 | 1.3250 | * | congestion | S3 | 1.2950 | ** | 50% ret of Jan-Jul rally | |
| R1 | 1.3200 | * | congestion | S4 | 1.2900 | congestion |
Asterisk denotes strength of level
08:10 GMT - The anticipated minor test lower has bounced from above support at the 1.3100 break level, with prices currently trading around 1.3150. Daily readings continue to rise, suggesting room for a test of congestion resistance at 1.3200. But mixed/negative weekly charts are expected to prompt renewed selling interest around here and limit any break in renewed selling interest beneath further congestion around 1.3250. Meanwhile, a break below 1.3100 would add weight to sentiment and open up congestion support around 1.30000. Flat oversold weekly stochastics should limit any immediate tests in consolidation.