Chart GBP/USD Update: Lower in consolidation from 1.3632, fresh year high
Break above 1.3616 high has seen gain reaching fresh year high at 1.3632 before settling lower in consolidation
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3750 | ** | 13 Jan 2022 year high | S1 | 1.3500 | * | congestion | |
| R3 | 1.3700 | * | congestion | S2 | 1.3455 | * | 10 Jun low | |
| R2 | 1.3645 | * | Feb 2022 high | S3 | 1.3435 | ** | Sep 2024 year high | |
| R1 | 1.3632 | ** | intraday YTD high | S4 | 1.3400 | * | congestion |
Asterisk denotes strength of levelr
01:50 GMT - Break above 1.3616 high has seen gain reaching fresh year high at 1.3632 before settling lower in consolidation to unwind overbought intraday studies. Bullish gains from the May low at 1.3140 suggest room for further gains later to extend the underlying bull trend from the September 2022 year low. Nearby will see room to target 1.3645, February 2022 high. Break here will see scope for extension to the 1.3700 congestion and 1.3750, January 2022 year high. Meanwhile, support is raised to the 1.3500 congestion which should now underpin. Below this will open up room to the strong support at the 1.3455/1.3435 area.