Published: 2025-09-01T07:24:28.000Z
Chart GBP/USD Update: Choppy in range
Senior Technical Strategist
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The anticipated minor pullback has not been seen
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | ** | 1 Jul YTD high | S1 | 1.3500 | ** | congestion | |
| R3 | 1.3681 | 4 Jul high | S2 | 1.3400 | * | congestion | ||
| R2 | 1.3590/00 | ** | 24 Jul (w) high; cong | S3 | 1.3300 | * | congestion | |
| R1 | 1.3550 | intraday break level | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
08:10 BST - The anticipated minor pullback has not been seen, as prices post a steady bounce from 1.3450~, reaching 1.3540 before settling into consolidation around 1.3525. Intraday studies are rising and daily stochastics have turned up, suggesting room for a test above resistance at 1.3550. But the flat daily Tension Indicator and mixed/negative weekly charts are expected to limit scope in renewed selling interest towards the 1.3590 weekly high of 24 July and congestion around 1.3600. In the coming sessions, further consolidation is looked for, with congestion support at 1.3400 to underpin any immediate break below 1.3500.