Published: 2026-08-11T01:56:10.000Z
Chart GBP/USD Update: Room for further gains
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Consolidation below the 1.3500 level has given way to break to reach 1.3530 high
| Level | Comment | Level | Comment | |||||
|---|---|---|---|---|---|---|---|---|
| R4 | 1.3650/58 | ** | congestion, May high | S1 | 1.3450 | * | congestion | |
| R3 | 1.3600 | * | 17 Apr high, congestion | S2 | 1.3400 | ** | congestion | |
| R2 | 1.3558 | ** | 15 Jul high | S3 | 1.3350 | * | congestion | |
| R1 | 1.3530 | 10 Aug high | S4 | 1.3300 | ** | May low |
Asterisk denotes strength of level
01:50 GMT - Consolidation below the 1.3500 level has given way to break to reach 1.3530 high. Bullish gains from the 1.3275 late-July low keep pressure on the upside and see room for further gains ahead. Higher will see room for retest of strong resistance at the 1.3550/58 congestion and mid-July high. Clearance here, will extend the broader gains from the June current year low and see scope to target the 1.3650/58, May highs. Meanwhile, support at the 1.3450/00 area should underpin. Would take break here will open up room for deeper correction to the 1.3350/00 congestion and May low.