Published: 2025-09-04T07:31:10.000Z
Chart GBP/USD Update: Choppy trade - studies under pressure
Senior Technical Strategist
1
Anticipated losses have been delayed
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3681 | 4 Jul high | S1 | 1.3400 | * | congestion | ||
| R3 | 1.3590/00 | ** | 24 Jul (w) high; cong | S2 | 1.3300 | * | congestion | |
| R2 | 1.3550 | intraday break level | S3 | 1.3200 | * | congestion | ||
| R1 | 1.3500 | ** | congestion | S4 | 1.3140 | ** | May-Aug lows |
Asterisk denotes strength of level
08:10 BST - Anticipated losses have been delayed, as sharp buying interest prompts a bounce to 1.3455/60, before settling back to 1.3420. Daily readings continue to fall, highlighting a later break back below congestion support at 1.3400 towards further congestion around 1.3300. However, broader weekly charts are also under pressure, pointing to room for still deeper losses, initially to 1.3200. Meanwhile, resistance is at congestion around 1.3500 and should cap any fresh tests higher.