Published: 2025-08-05T01:48:43.000Z
Chart GBP/USD Update: Room to extend bounce from 1.3140 support
Technical Analyst
1
Pressure remains on the upside as prices looks to extend bounce from support at the 1.3140, May low
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3435 | ** | 2024 year high | S1 | 1.3200 | * | congestion | |
| R3 | 1.3400 | * | congestion | S2 | 1.3140 | ** | May low, 38.2% | |
| R2 | 1.3370 | ** | 16 Jul/Jun lows | S3 | 1.3100 | * | congestion | |
| R1 | 1.3300 | * | congestion | S4 | 1.3000 | ** | figure, congestion |
Asterisk denotes strength of levelr
01:45 GMT - Pressure remains on the upside as prices looks to extend bounce from support at the 1.3140, May low. Daily studies have turned up from oversold areas and suggest consolidation at the 1.3300 level giving way to break later to further retrace losses from the 1.3788, July current year high. Higher will see room to retest resistance at the 1.3370 previous lows and the 1.3400 level. Meanwhile, support at the 1.3200 congestion is expected to underpin and sustain bounce from the 1.3140 low.