Published: 2025-06-20T01:56:45.000Z
Chart GBP/USD Update: Consolidating, room for lower later
Technical Analyst
2
Limited on break of the 1.3400 level as prices unwind oveersold intraday studies and consolidate losses from the 1.3632 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3700 | * | congestion | S1 | 1.3400 | * | congestion | |
| R3 | 1.3632 | ** | 13 Jun YTD high | S2 | 1.3360 | * | congestion | |
| R2 | 1.3600 | * | congestion | S3 | 1.3250/00 | * | congestion | |
| R1 | 1.3500 | * | congestion | S4 | 1.3142/40 | ** | 2023 year high, May low |
Asterisk denotes strength of levelr
01:50 GMT - Limited on break of the 1.3400 level as prices unwind oveersold intraday studies and consolidate losses from the 1.3632 high. Bounce see resistance at 1.3500 congestion and regaining will open up room for stronger bounce to previous wedge support at 1.3560. Lower high sought to further pressure the downside later and break of the 1.3400 level will open for deeper pullback to retrace rally from the 1.3140, May low. Lower will see room to support at 1.3360 then the 1.3250/00 area. Below this will return focus to the 1.3140 low.