Published: 2026-06-17T07:29:14.000Z
Chart GBP/USD Update: Range trade - background studies under pressure
3
Little change, as prices extend cautious trade within the 1.3400 - 1.3450 range
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3600 | ** | congestion | S1 | 1.3400 | ** | congestion | |
| R3 | 1.3550 | * | congestion | S2 | 1.3350 | break level | ||
| R2 | 1.3500 | ** | congestion | S3 | 1.3300 | ** | congestion | |
| R1 | 1.3450 | break level | S4 | 1.3275 | ** | 76.4% ret of Mar-May rally |
Asterisk denotes strength of level
08:10 BST - Little change, as prices extend cautious trade within the 1.3400 - 1.3450 range. Intraday studies are leaning lower, highlighting room for a retest of congestion support at 1.3400. Rising daily stochastics and the positive daily Tension Indicator should prompt renewed consolidation around here, before deteriorating weekly charts add weight to sentiment and prompt a break towards 1.3350. Bearish longer-term charts see room for a later break towards critical support at 1.3300. Meanwhile, resistance remains at 1.3450. Any tests above here should be limited in renewed selling interest towards congestion around 1.3500.