Published: 2026-07-10T01:53:22.000Z
Chart GBP/USD Update: Extending gains
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Consolidation below the 1.3400 level has given way to break to extend strong gains from the 1.3140 June current year low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600/10 | ** | congestion, Apr high | S1 | 1.3350 | * | congestion | |
| R3 | 1.3550 | congestion | S2 | 1.3300 | ** | May low | ||
| R2 | 1.3500/10 | ** | congestion, 25 May high | S3 | 1.3250/00 | congestion | ||
| R1 | 1.3450 | * | congestion | S4 | 1.3140 | ** | 24 Jun YTD low |
Asterisk denotes strength of level
01:45 GMT - Consolidation below the 1.3400 level has given way to break to extend strong gains from the 1.3140 June current year low. Higher will see room to resistance at 1.3450/75 congestion and January channel. Overbought daily studies suggest reaction at the latter likely but consolidation expected to give way to break to further retrace the May/June losses and see room to 1.3500/10 area. Meanwhile, support is raised to the 1.3400/1.3350 congestion area which should now underpin and sustain gains from the 1.3140 low.