Published: 2026-05-05T02:00:51.000Z
Chart GBP/USD Update: Leaning lower in consolidation
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Extending rejection from resistance at the 1.3650 congestion to threaten support at 1.3500 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | ** | Jul 2025 year high | S1 | 1.3550 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3500 | * | congestion | |
| R2 | 1.3650 | ** | congestion | S3 | 1.3450 | ** | 23 Apr low, congestion | |
| R1 | 1.3600 | * | 17 Apr high, congestion | S4 | 1.3400 | * | congestion |
Asterisk denotes strength of level
01:50 GMT - Extending rejection from resistance at the 1.3650 congestion to threaten support at 1.3500 level. Daily studies are tracking lower and suggest scope for break here to expose the 1.3450 support to retest. Below this will open up room for deeper pullback to retrace gains from the 1.3160 March current year low. Corrective pullback are expected to give way to renewed buying interest later. Meanwhile, resistance remains at the 1.3600 level and regaining this needed to ease the downside pressure and clear the way for retest of 1.3650 congestion and higher.