GBP/USD halts ahead of key 1.3600 resistance

Carol Harmer Charmer Trading

GBP/USD has stalled right beneath the 1.3600 resistance — a level reinforced by the 0.618 Fibonacci retracement.

The currency is overbought, although not excessively, and early doors we’re hovering around a glut of support at 1.3516.

This level is important:

It’s today’s Daily Pivot.

It intersects with the 9‑day M/A.

It aligns with the 0.500 Fib.

And price is sitting right on top of it.

This makes 1.3516 the key battleground for today’s trading.

The rejection from 1.3600 has already produced a move lower, but structurally we should break further, with 1.3438 → 1.3413 the targeted zone.

Watch how price behaves around 1.3516:

If support holds, expect a knee‑jerk rally back toward 1.3600, where sellers have defended this level on the last four attempts.

If support fails, the downside opens cleanly toward 1.3438–1.3413, where profit‑taking should emerge and help ease the overbought conditions on the daily charts.

A turn lower in stochastics from the 82% region would support the bearish continuation.

This is not investment advice.

Author

Carol Harmer

Charmer Trading

Carol Harmer has over 39 years experience of analysing and trading the world's markets and is undoubtedly one of the most respected technical trader in the world today.

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