Published: 2025-08-22T01:51:04.000Z
Chart GBP/USD Update: Under pressure
Technical Analyst
2
Under pressure as prices extend pullback from the 1.3595 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3788 | ** | 1 Jul YTD high | S1 | 1.3400 | * | congestion | |
| R3 | 1.3680 | * | 4 Jul high | S2 | 1.3370 | * | Jun, 16 Jul lows | |
| R2 | 1.3595/00 | ** | 14 Aug high, congestion | S3 | 1.3300 | * | figure | |
| R1 | 1.3500/20 | * | congestion, 15 Aug low | S4 | 1.3200 | * | congestion |
Asterisk denotes strength of level
01:50 GMT - Under pressure as prices extend pullback from the 1.3595 high to retrace rally from the 1.3140, 1st August low to reach the 1.3400 level. Daily studies are unwinding overbought readings and break here will see room to retest strong support at 1.3370. Break here will return focus to the downside and see room for extension to the 1.3300/1.3200 congestion area and 1.3140 low. Meanwhile, resistance is lowered to 1.3500/20 congestion area which is expected to cap and sustain losses from to the 1.3590/1.3595 highs.