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Published: 2025-07-01T02:17:43.000Z

Chart GBP/USD Update: Consolidating, room for higher later

byPakLai Ng

Technical Analyst
1

Little change, as prices extend consolidation below 1.3770, current year high

 Level  Comment   Level  Comment 
R4 1.3900*congestion S1 1.3632*13 Jun high           
R3 1.3835*Oct 2021 high S2 1.3600*congestion
R2 1.3800*congestion S3 1.3530*23 Jun high
R1 1.3770**26 Jun YTD high       S4 1.3500*congestion

Asterisk denotes strength of levelr

02:15 GMT - Little change, as prices extend consolidation below 1.3770, current year high. Daily studies are stretched but bullish momentum from the 1.3370 low low of last week keeps focus firmly on the upside. Clearance will further extend the underlying bull trend from September 2022 low and see room to resistance at the 1.3800/35 area. Meanwhile, support is at the 1.3632/1.3600 area which should underpin. Below these will open up room for deeper correction to strong support at 1.3500 level and 1.3435.

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Topics
GBP/USD-TA
Free-Tactical-TA
DM-Technical
Technical Analysis

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