Published: 2026-08-04T01:58:32.000Z
Chart GBP/USD Update: Consolidating test of 1.3500
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Backed off from test of the 1.3500 level as prices consolidate strong gains from the 1.3275 low of last week
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3650/58 | ** | congestion, May high | S1 | 1.3400 | * | congestion | |
| R3 | 1.3600 | * | 17 Apr high, congestion | S2 | 1.3350 | * | congestion | |
| R2 | 1.3558 | ** | 15 Jul high | S3 | 1.3300 | ** | May low, congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3275 | ** | 28 Jul low |
Asterisk denotes strength of level
01:50 GMT - Backed off from test of the 1.3500 level as prices consolidate strong gains from the 1.3275 low of last week and unwind overbought intraday studies. Daily studies are stretched as well and suggest scope for break of support at the 1.3400 level to open up room for deeper pullback to 1.3350 congestion. Corrective pullback seen giving way to renewed buying interest later, break above the 1.3500 level will turn focus to the 1.3550/58 congestion and mid-July high then the 1.3600 level.