Chart GBP/USD Update: Balanced beneath 2025 year high
Anticipated losses have met buying interest just above congestion support at 1.3500
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3800 | ** | congestion | S1 | 1.3500 | ** | congestion | |
| R3 | 1.3750~ | ** | January 2022 (y) high | S2 | 1.3400 | congestion | ||
| R2 | 1.3650 | * | congestion | S3 | 1.3300 | break level | ||
| R1 | 1.3600/15 | ** | cong; 5 Jun YTD high | S4 | 1.3250~ | * | range lows |
Asterisk denotes strength of level
08:10 BST - Anticipated losses have met buying interest just above congestion support at 1.3500, as oversold intraday studies unwind, with prices currently trading around 1.3565. Daily readings continue to track lower and broader weekly charts are mixed/negative, suggesting room for fresh losses in the coming sessions. A break below 1.3500 will open up congestion around 1.3400. BUt by-then oversold daily stochastics are expected to limit any initial tests in consolidation. Meanwhile, resistance remains up to the 1.3615 current year high of 5 June. A close above here, not yet seen, would turn sentiment positive and confirm continuation of September 2022 gains, initially to congestion around 1.3650.