Published: 2026-07-06T01:50:51.000Z
Chart GBP/USD Update: Consolidating
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Settled back from the 1.3385 high as prices consolidate recent strong gains from the 1.3140 current year low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3550 | * | congestion | S1 | 1.3300 | ** | May low | |
| R3 | 1.3500/10 | ** | congestion, 25 May high | S2 | 1.3250 | * | congestion | |
| R2 | 1.3450 | * | congestion | S3 | 1.3200 | * | congestion | |
| R1 | 1.3385/00 | * | 2 Jul high, congestion | S4 | 1.3140 | ** | 24 Jun YTD low |
Asterisk denotes strength of level
01:45 GMT - Settled back from the 1.3385 high as prices consolidate recent strong gains from the 1.3140 current year low and unwind the stretched daily studies. Consolidation is expected to give way to further gains later, higher will see room to resistance at the 1.3450 congestion. Clearance here will open up room to strong resistance at 1.3500/10, 25 May high and January trendline. Meanwhile, support is raised to the 1.3300 May low which should now underping and sustain strong gains from the June YTD low.