Published: 2025-11-07T01:40:57.000Z
Chart GBP/USD Update: Extend bounce from 1.3014/00 support
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Consolidation at the 1.3014/00 support has given way to rebound as prices unwind oversold intraday and daily studies
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3400 | * | congestion | S1 | 1.3014/00 | * | Mar high, congestion | |
| R3 | 1.3300/24 | * | congestion, Sep low | S2 | 1.2945 | * | 50% Jan/Jul rally | |
| R2 | 1.3200/48 | ** | congestion, 14 Oct low | S3 | 1.2900 | congestion | ||
| R1 | 1.3140 | ** | May, Aug lows | S4 | 1.2865 | 27 Mar low |
Asterisk denotes strength of level
01:35 GMT - Consolidation at the 1.3014/00 support has given way to rebound as prices unwind oversold intraday and daily studies to reach resistance at the 1.3140, previous May/August lows. Clearance here will see room for stronger gains to retrace recent sharp losses from the 1.3726, September high. Higher will see scope to strong resistance at the 1.3200/48, congestion and 14 October low. Meanwhile, support at the 1.3014/00 area now underpin. Break here will see room for deeper pullback to the 1.2945, 50% Fibonacci level, and 1.2900 congestion.