Published: 2026-06-02T07:31:08.000Z
Chart GBP/USD Update: Choppy trade - daily studies improving
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The test below support at 1.3450 has bounced sharply from 1.3405
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3657 | ** | 1 May (m) high | S1 | 1.3450 | break level | ||
| R3 | 1.3600 | * | congestion | S2 | 1.3400 | ** | congestion | |
| R2 | 1.3550 | * | congestion | S3 | 1.3367 | * | 28 May (w) low | |
| R1 | 1.3500 | ** | congestion | S4 | 1.3300 | ** | congestion |
Asterisk denotes strength of level
08:10 BST - The test below support at 1.3450 has bounced sharply from 1.3405, with prices currently balanced in cautious trade around 1.3470. Daily readings continue to rise and weekly stochastics are showing signs of improvement, suggesting room for a test of congestion resistance at 1.3500. A break above here will extend mid-May gains towards further congestion around 1.3550. But the flat weekly Tension Indicator could limit any initial tests in consolidation. Meanwhile, support remains at 1.3450. A close beneath here would turn sentiment neutral once again and give way to consolidation above congestion support at 1.3400.