Published: 2025-07-08T01:57:01.000Z
Chart GBP/USD Update: Consolidating at 1.3600, room for lower later
Technical Analyst
2
Turned up from the 1.3562 pullback low to consolidate at the 1.3600 level
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3900 | * | congestion | S1 | 1.3562 | * | 2 Jul low | |
| R3 | 1.3835 | * | Oct 2021 high | S2 | 1.3500 | * | congestion | |
| R2 | 1.3788 | ** | 1 Jul YTD high | S3 | 1.3435 | * | Sep 2024 year high | |
| R1 | 1.3680 | * | 4 Jul high | S4 | 1.3370 | ** | 23 Jun low |
Asterisk denotes strength of levelr
01:50 GMT - Turned up from the 1.3562 pullback low to consolidate at the 1.3600 level but pressure remains on the downside as daily studies unwind overbought readings. Lower will open up room for deeper correction to the 1.3500 level then the strong support at the 1.3435/00 area. Meanwhile, resistance is lowered to the 1.3680/1.3700 congestion area which is expected to cap. A later break here will expose the 1.3788 high to retest and see room to extend the underlying bull trend from September 2022 low to target 1.3835, high of October 2021.