Chart GBP/USD Update: Consolidating, but room for deeper pullback from 1.3675 high
Higher in range from the 1.3570 Thurday's low as prices consolidate pullback from the 1.3675 high of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | * | Jul 2025 yr high | S1 | 1.3558/50 | ** | Jul high, congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3500 | * | congestion | |
| R2 | 1.3650/75 | ** | congestion, 21 Aug high | S3 | 1.3475 | * | 13 Aug low | |
| R1 | 1.3600 | * | congestion | S4 | 1.3450 | * | congestion |
Asterisk denotes strength of level
01:45 GMT - Higher in range from the 1.3570 Thurday's low as prices consolidate pullback from the 1.3675 high of last week. Negative daily studies keep pressure on the downside and suggest room for deeper pullback to retrace recent strong gains from the 1.3275 late-July swing low. Lower will see room to to nearby support at the 1.3550 congestion where break will open up room for deeper pullback to 1.3500 level. However, corrective pullback expected to give way to renewed buying interest later to extend bullish gains from the 1.3140, June current year low. Above 1.3675 will see room to 1.3700/50 congestion area.