Published: 2026-06-05T01:59:27.000Z
Chart GBP/USD Update: Range-bound, but still heavy
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Range-bound in consolidation above the 1.3400 support but pressure remains on the downside
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | ** | 17 Apr high, congestion | S1 | 1.3400 | * | congestion | |
| R3 | 1.3550 | * | congestion | S2 | 1.3350 | * | congestion | |
| R2 | 1.3500 | ** | 12 May low, congestion | S3 | 1.3300 | ** | May low, congestion | |
| R1 | 1.3450 | * | congestion | S4 | 1.3250 | * | congestion |
Asterisk denotes strength of level
01:50 GMT - Range-bound in consolidation above the 1.3400 support but pressure remains on the downside following rejection from the 1.3485/1.3500 highs. Break of the 1.3400 level will turn focus to support at the 1.3350 congestion then the 1.3300 May low. Below here will extend the broader losses from the 1.3650 May high and open up room to 1.3200 level and 1.3160 March YTD low. Meanwhile, resistance remains at the 1.3450/85 congestion area and the 1.3500 level. Regaining these needed to ease the downside pressure and room back to 1.3550/1.3600 area.