Chart GBP/USD Update: Turning away from fresh 2025 year high
Anticipated tests higher have posted a fresh 2025 year high around 1.3615
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3800 | ** | congestion | S1 | 1.3500 | ** | congestion | |
| R3 | 1.3750~ | ** | January 2022 (y) high | S2 | 1.3400 | congestion | ||
| R2 | 1.3650 | * | congestion | S3 | 1.3300 | break level | ||
| R1 | 1.3600/15 | ** | cong; 5 Jun YTD high | S4 | 1.3250~ | * | range lows |
Asterisk denotes strength of level
08:10 BST - Anticipated tests higher have posted a fresh 2025 year high around 1.3615, before turning lower as positive intraday studies unwind. Daily stochastics are also coming under pressure and the flat daily Tension Indicator is leaning lower, suggesting room for further losses towards congestion support at 1.3500. Further slippage will open up 1.3400. But rising weekly charts should limit any tests of here in renewed buying interest. Following corrective trade, fresh gains are looked for. But a close above 1.3600 is needed to turn sentiment positive and confirm continuation of September 2022 gains, initially to congestion around 1.3650.