Chart GBP/USD Update: Balanced beneath 2025 year highs
Little change, as mixed intraday studies keep near-term sentiment cautious
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3750~ | ** | January 2022 (y) high | S1 | 1.3500 | ** | congestion | |
| R3 | 1.3650 | * | congestion | S2 | 1.3400/15 | * | cong; 29 May (w) low | |
| R2 | 1.3632 | ** | 12 Jun YTD high | S3 | 1.3300 | break level | ||
| R1 | 1.3600 | * | congestion | S4 | 1.3250~ | * | range lows |
Asterisk denotes strength of level
08:10 BST - Little change, as mixed intraday studies keep near-term sentiment cautious and extend consolidation beneath congestion resistance at 1.3600. The daily Tension Indicator is under pressure, highlighting potential for further cautious trade. But daily stochastics have turned higher and broader weekly charts are also edging up, suggesting room for fresh gains in the coming sessions. A close above the 1.3632 current year high of 12 June is needed to turn sentiment positive, and extend September 2022 gains beyond congestion around 1.3650 towards the 1.3750~ year high of January 2022. Meanwhile, support remains at congestion around 1.3500. A close beneath here, if seen, would add weight to sentiment and open up support around 1.3400/15, where renewed buying interest is expected to appear.